SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2017

SUBSEQUENT EVENT

SUBSEQUENT EVENT

11.    SUBSEQUENT EVENT

Business Combination

As part of the growth strategy of the Company, in January, 2018, the Company purchased substantially all of the operating assets associated with the original equipment steering business of Maval Industries, LLC (“Maval”).

The Company is currently in a shared services agreement with Maval and is completing the production carve-out/separation of the businesses.  The acquisition is expected to be neutral to slightly accretive to earnings for the Company in 2018.  Once the carve-out is complete, the business will be located entirely within its own dedicated facility in Twinsburg, OH.