GM sells Nexteer to Pacific Century Motors


General Motors has just confirmed that it has completed  the sale of Nexteer Automotive to Pacific Century Motors, effective November 30, 2010.

“The sale of Nexteer’s business includes global steering and halfshaft operations including 22 manufacturing facilities, six engineering facilities and 14 customer support centers located in North and South America, Europe and Asia,” GM said in a statement.

Pacific Century said Nexteer CEO Robert Remenar will remain in charge, and the company’s headquarters will stay in Saginaw, Michigan

The terms of the sale were not disclosed.

– By: Omar Rana