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Sumida, a global manufacturer of coil-related components, acquired Detroit-based Pontiac Coil for approximately $55 million to expand in North American automotive markets and advance automated manufacturing capabilities.
SUMIDA CORPORATION, through its subsidiary SUMIDA AMERICA HOLDINGS INC., acquired 100% of the shares of Pontiac Coil Inc., a developer and manufacturer of coils for the automotive industry with headquarters near Detroit, Michigan and a manufacturing facility in Searcy, Arkansas.