Tower International, Inc. (TOWR) - NYSE
  • Dec. 28, 2012, 10:51 AM

    Tower International (TOWR +13.4%) jumps higher this morning after saying it's sold its Korean operations for an estimated $47M in cash. The company said the buyer will assume $98 million in net debt averaged over the last 12 months through November, putting the transaction enterprise value at approximately $145M, or 5.8 times projected 2012 adjusted earnings.

    | Dec. 28, 2012, 10:51 AM
Company Description
Tower International, Inc. manufactures engineered structural metal components and assemblies primarily serving automotive original equipment manufacturers. The company offers its automotive customers a broad product portfolio, supplying body-structure stampings, frame and other chassis... More
Industry: Metal Fabrication
Country: United States