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Shiloh Industries Inc., a multi-discipline automotive parts manufacturer, completed the purchase of Contech Castings from Revstone Industries LLC, which is in bankruptcy proceedings. Details of the sale were not released, but reports indicate that Revstone executed the transaction outside of a federal bankruptcy court's oversight by transferring Contech to one of its non-bankrupt holdings.
Revstone Industries is a holding company that along with several subsidiaries filed for creditor protection in December 2012.
Earlier reports projected the sale price at $54.4 million.
Contech...