A Chinese consortium in Shanghai has bought the Valiant Group of Windsor, Ont., a global supplier of tooling and equipment for the vehicle manufacturing process.
The purchase will enable Valiant to expand into new global markets, company officials said.
Solcz Group Inc. said Thursday that it had signed a share purchase agreement to sell its Valiant TMS Group of Companies to the Chinese consortium.
Neither party disclosed the value of the deal.
The transaction is scheduled to close in late 2016, subject to regulatory filing. The identity of the buyer is being held confidential until closing.
The Valiant group of companies has 27 facilities in 15 countries. It provides automated production systems and specialized tooling serving the automotive, aerospace and heavy industry sectors.
Specific to the auto industry, Valiant provides equipment in body-in-white welding and assembly systems, powertrain assembly systems, plastic injection and composite tooling, final vehicle assembly systems and more.