VCST CHANGES OWNERS AGAIN

[BIZ: St. Trond, November 9]
The Limburg automotive transmission specialist VCST, which used to be Volvo Car St. Trond, has changed owners again. This is the third sale of the business within a couple of years. The company went from Volvo to the San Francisco-based private equity firm Fox Paine, and scarcely six months later Fox Paine has commissioned the US bank City Group to find a purchaser. The purchaser is the French-German Alpha Fund, with its main office in Paris and an office in Frankfurt. Fox Paine management will retain a minority stake.

VCST Industrial Products is a supplier for the automotive industry. The group produces engine and transmission gears, transmission shafts and aluminum valve blocks. In addition to St. Trond, VCST has operations in the Reichenbach in Germany, Detroit in the US, and Mexico.

The group employs more than 1,000, including 700 in Belgium. Volkswagen, Ford, and Daimler are among its important customers.

(Source: De Standaard)
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