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

Somple named president of Mack Molding

September 2, 2014 4:30 pm ET

Jeff Somple, president of Mack Molding Inc.'s Northern division, has been promoted to president of all of Mack Molding Inc.    More

Image

GI Plastek to open expanded N.H. plant

September 2, 2014 3:02 pm ET

GI Plastek Wolfeboro LLC, a custom structural foam and injection molder of medium and large parts, is unveiling a 35,000-square-foot expansion this...    More

Image

Australia's Orora buys Texas packaging distributor Worldwide Plastics

September 2, 2014 2:54 pm ET

Australian packaging company Orora Ltd. has bought San Antonio, Texas-based plastic packaging distributor Worldwide Plastics Co.    More

Image

Minnesota Rubber & Plastics has new leader, new focus

September 2, 2014 12:18 pm ET

With new leadership, Minnesota Rubber & Plastics is setting the foundation for long-term success.    More

Image

A. Schulman buys Australia's Compco, 10th acquisition in 4 years

September 2, 2014 11:13 am ET

Akron, Ohio-based A. Schulman Inc., a supplier of high-performance plastic compounds and resins, said it has acquired a company near Melbourne, Austra...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events