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Italian Auto Supplier Buys Detroit Site for New Factory
Italian automotive supplier Tiberina Group has acquired 10 acres of land at the former American Axle & Manufacturing Holdings site in Detroit to build a new manufacturing plant.
Tiberina purchased the land from Cleveland-based Industrial Commercial Properties (ICP) and California-based Industrial Realty Group LLC. The two firms themselves acquired most of American Axle’s 2.5 million-square-foot Detroit Manufacturing Complex in 2014.
Crain’s Detroit Business reported that it’s not clear how large a facility Tiberina plans to build. “Tiberina views this as a strategic location, which is ideal for supporting their automotive clients,” said ICP’s Austin Semarjian. “The details are still being worked out such as size and scope of the new plant, but this land purchase indicates their commitment to the project.”
A new plant would represent the first production operations on the site since American Axle closed down the complex in 2012, Crain’s reported.
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