Globe-Union in Spanish Market
Globe-Union becomes share owner of Spanish auto parts firm
September 23, 1966 (PD: 201509)
A Globe-Union press release announced on September 23, 1966 that the company would become a shareowner in Fabrica Espanola Magnetos S. A. (FEMSA), Spain’s largest manufacturer of automotive electrical equipment.
Termed as a significant development in Globe-Union’s expanding international activity, the agreement licensed FEMSA to use Globe Battery division patents, designs, and processes involved in the manufacture of the complete line of Globe-developed automotive storage batteries.
Globe-Union president C. O. Wanvig, Jr., stated that “one of the primary benefits of the new corporate affiliation is the opportunity it will provide for Globe-Union to share in this burgeoning foreign market.”
Headquartered in Madrid, FEMSA operated numerous manufacturing facilities in both Spain and Portugal that employed more than 4,500 employees. FEMSA produced a number of automotive electrical products including batteries, windshield wipers, distributors, ignition coils, and alternators.
Officials for FEMSA stated that the agreement would be in line with their policy of offering the most advanced products to their customers.