Budd forms Mexican joint venture

The Budd Co. forms a joint venture in Mexico to design and manufacture automotive sheetmetal stampings and assemblies for Mexican auto factories. Named Aventec SA de CV, it will be equally owned by Budd and Hirotec Corp. of Hiroshima and Sumitomo Corp. of Tokyo and located in the city of Silao in the state of Guanajuato, Mexico. The new $50 million JV is expected to employ about 400.