Daimler Truck AG has entered into a transaction with Ukuvela Holdings to acquire control of the company and its subsidiaries Atlantis Foundries and Ukuvela Properties. The Competition Commission has been notified for approval. Atlantis Foundries produces automotive castings for the commercial vehicle industry and machines cylinder blocks and crankshafts for automotive applications.
Atlantis Foundries produces automotive castings for the commercial vehicle industry. Daimler/Mercedes-Benz South Africa took control of Atlantis Foundries in 1999, and achieved record production of 60 000 tons cast in 2012. The overall melting capacity of the foundry now stands at 100 000 tons per annum. Read more..