By Doc Louallen
Phinia will buy the Stoba Group, a supplier of high-precision components, systems, and custom manufacturing.
Terms of the deal, which is expected to close in the fourth quarter, were not disclosed.
The acquisition is expected to complement Phinia's product lineup, strengthen its supply chain, and expand its capabilities in complex component manufacturing and system integration, the Auburn Hills, Mich., company said. It also expects the move to broaden its reach across passenger and commercial vehicles, off-highway and industrial markets, capital equipment, semiconductors, and aerospace and defense.
Phinia describes itself as an industrial supplier and global leader in the development of fuel systems, electrical systems, and after-market solutions.
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