Michigan’s TI Automotive has announced the acquisition of Ligonier-based powertrain products producer Millennium Industries Corp. Financial terms of the deal were not disclosed.
TI Automotive says it will retain Millennium’s 150,000 square-foot manufacturing facility in Ligonier, along with the approximately 500 employees that work there. Chief Executive Officer Bill Kozyra says the move is a positive step for the company.
"Adding Millennium’s successful powertrain products, operations and technical expertise increases our ability to do what we do best – develop and manufacture technology that helps improve fuel economy and performance, while reducing emissions," said Kozyra. "Furthermore, it expands our global reach within the rapidly growing powertrain field."
Millennium President Gary Vollmar says become part of TI Automotive is a perfect fit for the company’s customers and employees.