Commercial Vehicle Group Sells Business and Reshuffles Leadership

The latest update is out from Commercial Vehicle Group ( (CVGI) ).

Commercial Vehicle Group, Inc. has sold its control panels and electro-mechanical systems business to FSE Diya, Inc. for $1.5 million, with potential earnout payments. The deal includes a transition services agreement and carries standard non-compete clauses. Meanwhile, Richard Tajer, President of Electrical Systems, is stepping down, with Peter Lugo stepping in to lead the segment, bringing extensive experience from his previous roles at Southwire and other firms.

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