Spain's Grupo Maier buys stake in Italian auto firm

Richard Higgs

Published: September 17, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Automotive, Injection Molding

AJANGIZ, SPAIN (Sept. 17, 8:35 a.m. ET) — Spanish auto component injection molder Grupo Maier has extended its production into southern Europe with the purchase of a 50 percent stake in Italian parts molder and finisher Cromoplastica International.

The deal allows Basque Country-based Grupo Maier the option of acquiring the remaining capital of the plastic parts chrome plating specialist at a later date.

The Italian firm, now renamed Maier Cromoplastica, has two plants: the main injection molding and galvanising unit in Verdellino and a second, with another chrome galvanizing line, in nearby Ciserano.

Founded in 1976, Cromoplastica is based in Verdellino, close to Bérgamo in northern Italy. In 2011, the firm recorded annual sales of 31 million euros ($40 million), and employs 250.

The investment will enable the Spanish group to improve service of its customers in central Europe and is in line with its strategy of leadership and innovation in the field of component decoration. In addition, the expansion strengthens the internationalization of its operations, said Grupo Maier which has its headquarters in Ajangiz, Spain.

The Spanish company operates five production plants. They include three in Spain – one at Ajangiz in the Guernica region; others in Iraizotz in Navarre and the offshoot Maier Ferroplast in Pontevedra, Galicia province. Abroad, it has plants at Attwood, UK and at Prostejov in the Czech Republic. In addition Maier has strategic alliance businesses in Turkey, Japan and India.

It was earlier this year that Maier, part of Spain’s big industrial cooperative group Corporación Mondragon, agreed to form a joint venture business, Alpha Maier Pvt in India with the Indian industrial company UM Group.


Comments

Spain's Grupo Maier buys stake in Italian auto firm

Richard Higgs

Published: September 17, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Cambro investing $30.4 million in new N.C. injection molding plant

April 18, 2014 2:36 pm ET

Foodservice products manufacturer Cambro Manufacturing Co. Inc. plans to set up a satellite production and distribution operation in Mebane, N.C., to ...    More

Image

Increased orders prompt Georg Utz to add capacity, equipment in Indiana

April 18, 2014 12:20 pm ET

Plastic totes and tray orders have picked up to the point where manufacturer Georg Utz Inc. has added machines, silos and material feed systems to...    More

Image

Ascend targets nylon for auto applications, opening propylene monomer unit in Texas

April 18, 2014 10:57 am ET

Materials firm Ascend Performance Materials Inc. is in full operation at its new nylon 6/6 compounding line in Florida and will break ground by the...    More

PolyQuest spins off FiberQuest unit

April 18, 2014 10:14 am ET

PolyQuest Inc. has spun off its FiberQuest unit — which distributes polyester staple fibers and cotton — as a separate company.    More

Spain's Cristian Lay Group buys two materials units of bankrupt LSB

April 17, 2014 11:11 am ET

Spanish industrial conglomerate Cristian Lay Group has purchased two of the bankrupt Spanish PET packaging group La Seda de Barcelona.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

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

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events