Key Plastics sells five European plants

By Rhoda Miel
News Editor

Published: February 21, 2012 6:00 am ET

Related to this story

Topics Automotive, Mergers & Acquisitions, Injection Molding

NORTHVILLE, MICH. (Feb. 21, 11:40 a.m. ET) — Auto supplier Key Plastics LLC has sold five of its European facilities through a management buy-out in a move it said will focus on its core business.

The newly-formed Innovative Components Technologies GmbH of Germany became the owner and operator of three German plants — in Wächtersbach, Lennestadt and Kierspe — along with facilities in Tachov, Czech Republic, and Borja, Spain, on Feb. 16, the companies announced in a Feb. 21 news release.

The new ICT will launch with 1,500 employees and an estimated 200 million euros ($264.5 million) in business.

The two companies did not disclose terms of the sale.

Northville, Mich-based Key Plastics retains European operations in L"hne, Germany, Janovice, Czech Republic and two sites in Portugal in Leiria and Vendas Novas. Key also has operations in the United States, Mexico, China and Japan.

The sale will allow Key to focus on core product lines in injection molded auto handles, bezels and clusters, decorative trim, air registered and select functional under-the-hood products.

“For Key, it represents the completion of a multi-year portfolio transaction which allows us to focus on our global core products,” said Key Plastics CEO Terry Gohl. “For ICT, they assume a well-established operating presence across Europe.”

The plants produce a variety of parts, including center consoles, seat belt components, body panels and headrests.


Comments

Key Plastics sells five European plants

By Rhoda Miel
News Editor

Published: February 21, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Alex Brands buys iconic Shrinky Dinks toys

December 19, 2014 3:15 pm ET

First Slinky, now Shrinky Dinks. What will toy and games investment firm Alex Brands buy next?    More

Image

Jarden hiring for new plastics plant

December 19, 2014 1:45 pm ET

Consumer products conglomerate Jarden Corp. is hiring plastics technicians for a new operation in Erlanger, Ky.    More

Image

The return of HPM's big presses

December 19, 2014 11:47 am ET

HPM is back in big injection molding machines.    More

Image

Thailand's SCG Chemicals buying Norwegian chemical firm Norner

December 19, 2014 9:11 am ET

Thailand's SCG Chemicals Co. Ltd. has announced it has acquired 51 percent of the shares in the independent petrochemical company Norner Holding AS fr...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events