Bear Diversified, Inc., announced today its subsidiary, Northern Stamping Co, completed its investment in LAMTEC Mexico, S.A. de C.V. In making this investment, Northern Stamping is partnered with Ontario based London Automotive & Manufacturing Ltd in the day-to-day operation of LAMTEC, which is located in Queretaro, Mexico.
Matthew Friedman, Chairman and CEO of Bear Diversified, stated, “our investment in LAMTEC builds on our 2015 acquisition of Highlands Diversified Services and provides Bear with an excellent platform to serve the Mexican market.” Combined with Northern Stamping’s existing welding and coating capabilities in Queretaro, Bear Diversified now offers its customers a fully integrated supply chain. Friedman added, “we are particularly excited to be partnered with London Automotive and to expand LAMTEC’s reach and product offering. We see this as an exciting development for our automotive, satellite and aerospace customers.”
Craig Hodgins, President of London Automotive and Chairman of LAMTEC commented, “we have been searching for a partner who shares our vision and commitment to our employees and customers. Bear has demonstrated it will a strong partner who embraces our passion for excellence and will help ensure the LAMTEC’s long-term success.”
Mr. Friedman and Mr. Hodgins both noted that Bear’s investment in LAMTEC opens the door for additional opportunities for collaboration between Bear and London Automotive, not only in Mexico but also in Canada and the United States. They suggested this transaction is a first step in a longer-term strategy to better serve their respective customers today while looking to offer a broader range of products and services in the future.