Key Plastics sells five European plants

By Rhoda Miel
News Editor

Published: February 21, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Automotive, 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

French investment firm buys Alabama-based CSP Technologies

January 30, 2015 1:10 pm ET

A French investment firm has finalized a deal to buy CSP Technologies Inc., an Auburn, Ala., company that makes specialty plastics packaging.    More

Image

Lubrizol buys Brazil-based coatings technology manufacturer

January 30, 2015 11:50 am ET

Specialty chemicals company Lubrizol Corp. of Wickliffe, Ohio, said it has acquired a Brazilian company that makes coatings technology for products...    More

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Image

Chemtrusion, Mytex Indiana compounding plant set for expansion

January 29, 2015 1:35 pm ET

Japanese and American partners in a compounding plant in Indiana plan to expand the facility.    More

Image

Falcon Plastics expands in South Dakota

January 29, 2015 11:45 am ET

Falcon Plastics Inc. is putting the final touches on a 60,000 square foot addition that will nearly double the size of its Brookings, S.D., manufactur...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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

More Events