Is Sealing Systems Supplier GDX Automotive Up for Sale?

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). There exists a possibility that automotive Tier 1 Supplier GDX Automotive (Farmington Hills, Michigan), the automotive division of GenCorp (NYSE:GY) (Rancho Cordova, California), might be sold. GenCorp’s financial performance in 2003 was handicapped by, among other factors, GDX Automotive's poor performance. GenCorp has said that it will consolidate GDX's manufacturing capacity, or sell the unit outright. Some of the most likely buyers of GDX would be companies that also specialize in sealing systems production, such as Hutchinson SA (Paris, France and Farmington Hills, Michigan), Metzeler Automotive Profiles (Lindau, Germany and Madison Heights, Michigan), or Nishikawa Rubber (Hiroshima, Japan).

GDX Automotive is the world's second-largest sealing supplier and a global leader in sealing technology for cars and light trucks.

GenCorp is a technology-based manufacturer with positions in the aerospace and defense, pharmaceutical fine chemicals, real estate, and automotive industries. GenCorp's businesses, besides GDX Automotive, are Aerojet, and Aerojet Fine Chemicals.

Hutchinson SA (Paris, France) is world market leader in rubber products in each of its three markets - automotive, industrial, and consumer products - and is part of the Chemical Branch of the Total Group, a TotalFinaElf company (Paris, France). Other Hutchinson entities with plants in the U.S. are Barry Controls (Brighton, MA) and Paulstra CRC (Grand Rapids, Michigan).

Metzeler Automotive Profiles (Lindau, Germany & Madison Heights, Michigan) produces sealing systems for the automotive industry. Metzler is a leader in automotive bodywork seals in Europe and China, and a leading supplier to U.S. OEM's, and employs over 10,000 worldwide in 30 manufacturing plants.

Cooper-Standard Automotive specializes in the manufacture and marketing of automotive products. Products for Cooper's Tire Group. In the Automotive Group, Cooper is an original equipment supplier of sealing, trim, NVH control systems, and fluid handling systems for the automotive industry in North America, Europe, Australia, and South America. Cooper has more than 25,000 employees and 77 manufacturing facilities in 13 countries.

Nishikawa Rubber Company Limited (NRC) is headquartered in Hiroshima, Japan and specializes in the manufacture of automotive products, as well as diversified products for the housing and construction industry, cosmetics industry, and medical industry. NRC is the largest automotive weather strip supplier in Japan, supplying to all automotive makers in Japan, including 100% of the convertible car market. NRC has four wholly owned manufacturing facilities in Japan and employs 1,500 people. NRC also has a strategic alliance with Cooper-Standard Automotive (Novi, Michigan), a subsidiary of Cooper Tire & Rubber (Findlay, Ohio).

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