TORONTO – Martinrea International Inc. is expanding its footprint in the U.S. auto sector by acquiring assets from an Oklahoma-based vehicle manufacturer.

Martinrea says it purchased assets from Lyseon North America Inc., which ran a plant in Tulsa, with operations focusing on metal part manufacturing and assemblies for the bus market.

The Toronto-based automotive supplier says it will continue to operate the businesses, with intentions to grow it over time.

Fred Di Tosto, Martinrea’s president, says in a press release that the acquisition represents a strategic U.S. location and the potential to broaden its product offerings.

The move comes amid uncertainty in the North American auto market after carmaker Stellantis said it will move planned vehicle production from its plant in Brampt

See Full Page