Xignux Selling Iron Castings Unit

US-based Revstone says it has agreed to acquire Mexico-based industrial manufacturer Xignux’s Tisamatic subsidiary for an undisclosed amount. Tisamatic produces high precision iron castings for the automotive sector, in addition to home appliances, cast iron connections, and soil pipes. It produces more than 60,000 metric tons of vertical molding and soil pipe. Its 133,000 sq. ft. facilities include 4 electric furnaces, 5 shot blast machines, 6 shell machines, 3 centrifuge machines and other related casting equipment. The transaction is under due diligence and is expected to close in the first half of the year. A Revstone spokesman declines to comment on deal value. However, he does say that Revstone is interested in making more acquisitions in Mexico. On January 12, Revstone announced it was acquiring a magnesium die casting facility in Chihuahua from Compass Automotive for an undisclosed price. Revstone did not use financial advisors.