Tower International
 | |
| Public | |
| Traded as | NYSE: TOWR |
| Industry | Automotive industry |
| Founder | 1993 |
| Headquarters | Livonia, Michigan, United States |
Number of locations | 39 facilities |
Area served | Worldwide |
Key people | Mark Malcolm (President & CEO) |
| Products |
-Body structural stampings and assemblies |
| Revenue |
 US$ 2.1 billion (FY 2012) |
|
US$ 64.2 million (FY 2012) | |
 US$ 18.0 million (FY 2012) | |
| Total assets |
US$ 1.24 billion (FY 2012) |
| Total equity |
US$ 63.25 million (FY 2012) |
Number of employees | 9,000 |
| Website |
www |
|
Footnotes / references [1] | |
Tower International LLC is a global designer and producer of structural components and assemblies used by some major automotive vehicle manufacturers. The company's main products include body structural stampings and assemblies, chassis structural stampings and assemblies, including full frames and cradles, suspension components, modules and systems and exposed sheet metal Class A surfaces.
Headquartered in Livonia, Michigan, the company generated revenues of $2.08 billion in 2012. The company currently has 39 facilities in 13 countries in North and South America, Europe and Asia. In the Automotive News global supplier ranking for 2006, the company ranked 55th.
History
Tower International was founded in 1993 as R.J. Tower Corporation, and later renamed Tower Automotive.[2] During the 1990s Tower Automotive grew fast with multiple acquisitions in North America, Europe, Asia and South America. In February 2005, Tower Automotive, Inc. and its operating subsidiaries filed for Chapter 11 bankruptcy reorganization.[3] In July 2007 Tower Automotive successfully emerged from Chapter 11 as an affiliate of Cerberus Capital Management, L.P, which purchased the company for $1 billion.[4]
In October 2010, the company issued an initial public offering, intended to raise up to $122 million in order to pay off part of Tower's $654 million debt.[4]
Products
Tower manufactures vehicle upper-body structures, which includes large metal stampings, such as body pillars, roof rails, side members, crossmembers, floor panels and intrusion beams, as well as Class A (exterior) surfaces and assemblies, such as body panels and doors.
Locations
Tower is headquartered in Livonia, Michigan. [4] Of its 39 facilities, it manufactures its products at 29 of them. The 29 production facilities are supported by eight engineering and sales locations.[5]
References
- ↑ "Tower International, Inc. (TOWR)". Yahoo! Finance.
- ↑ "Tower International-History". Tower International.
- ↑ "Company News; Tower Automotive Files for Bankruptcy". The New York Times.
- 1 2 3 "Cerberus's Tower Automotive Plans IPO to Repay Debt". Business Week. 4 October 2010. Retrieved 24 December 2010.
- ↑ "Locations". Tower International.