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 Automotive, Mergers & Acquisitions, 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

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.,...    More

Image

Plastics News Now: Losing weight with style, plastics in the Dragons' Den

January 29, 2015 6:00 am ET

A 19-year-old entrepreneur brings business to a U.K. injection molder after winning support on TV's Dragons' Den, auto suppliers combine...    More

Image

African equity fund invests in Kenya's General Plastics

January 28, 2015 4:24 pm ET

An African investment fund specializing in agriculture has invested in Kenyan packaging firm General Plastics Ltd. to provide funds to expand in the r...    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