Mahle Buys Mexico Engine Parts Maker

German car parts conglomerate Mahle has acquired the total shares of Mexican engine parts manufacturer Clemex, Mahle says. Clemex, which had sales of $16m in 2007, will keep its name until early 2009 when it will be completely merged with Mahle. Terms of the transaction were not disclosed. Mahle sees the deal giving it a platform for further growth in the North American light duty engine bearings market. The Stuttgart-based firm had sales of over EUR5bn in 2007, it says.