GRAND HAVEN — Automotive supplier Shape Corp. is selling its stamping operations facility in Spring Lake, the company announced Thursday.
A Grand Haven-based Tier I manufacturer, Shape Corp. is expected to sell its stampings facility to Ridgeview Industries Inc., a Grand Rapids-based stampings and assembly manufacturer.
The sale is expected to close in early July, according to a statement.
Terms of the deal were not disclosed.
The deal positions Shape Corp to “further invest in our strategic areas of focus for lightweighting,” said John Keene, marketing manager at Shape Corp.
“These include high-precision roll forming of ultra high-strength steel, 6000- and 7000-series aluminum products and material development, composite product development and exploring products and subsystems for the electric vehicle and autonomous markets,” he told MiBiz.
The Shape Corp. stampings facility at 16933 144th Ave. in Spring Lake Township currently has 99 employees, according to Keene, who added that once the deal closes, Ridgeview will continue to run the facility with its current employee base.
In January, MiBiz reported Shape Corp.’s plans to acquire Magnode Corp., a Trenton, Ohio-based manufacturer of aluminum extrusion. The deal was finalized March 8.