Filed under: Etc.
A few years ago, the U.S. auto industry was in serious trouble. Automakers received most of the press, but suppliers appeared to be in even more dire straits. Fast-forward to 2011 and the Detroit Three are in better shape, and suppliers apparently aren't doing so badly either.Automotive News reports that businessman Shahid Khan, who owns Flex-N-Gate, has purchased the Jacksonville Jaguars. There is no word at this time how much Khan paid for the franchise, but the league estimates that the team is worth $725 million. That's a lot of coin for any entrepreneur, but given the strict standards that the NFL uses to approve ownership, Khan apparently has the cash.
Flex-N-Gate builds stamped parts like fascias, bumpers and running boards, and it employs 12,000 people at 57 facilities throughout North America. AN reports that the automaker sold $3 billion worth of parts in 2010 alone, making it number 54 on the Automotive News list of the top 100 global parts suppliers.
Auto supplier owner buys Jacksonville Jaguars originally appeared on Autoblog on Sat, 03 Dec 2011 14:01:00 EST. Please see our terms for use of feeds.
Permalink | Email this | CommentsLeslie Johnson Bruce Johnstone Alan Jones Tom Jones Juan Jover
No comments:
Post a Comment