GRAND HAVEN — Automotive component supplier Shape Corp. plans to acquire Trenton, Ohio-based Magnode Corp., a manufacturer of aluminum extrusion.
The two companies previously worked together on engineering projects and developed best practices for lightweighting, a key trend in the automotive industry to shave weight from parts to improve overall vehicle efficiency.
According to a statement, the acquisition is expected to close in March. Terms of the deal were not disclosed, but Magnode will become a division of Shape Corp.
“Coupling Magnode’s decades of experience in the aluminum extrusion business with Shape’s global footprint and engineering know-how in impact energy management and body structures will mean that Shape is now a fully integrated, one-stop shop for customers seeking aluminum solutions,” Shape President Mark White stated.