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

Deal combines US packaging thermoformers

July 28, 2014 12:42 pm ET

Thermoformed medical packager Nelipak Corp. is expanding its North American holdings and access to the U.S. health care market with the purchase of...    More

Magna hiring at two Michigan locations

July 28, 2014 11:43 am ET

Magna Interior Trim Components is adding a total of 169 jobs to two of its Michigan manufacturing facilities.    More

Image

Columbine Plastics moving to new Colorado site

July 25, 2014 11:38 am ET

Custom injection molder Columbine Plastics Corp. plans to move from Boulder, Colo., to the Colorado Technical Center in Louisville, Colo.    More

Image

Metals and plastics company NN to buy Autocam in $300 million deal

July 25, 2014 10:07 am ET

A Tennessee metals and plastics company said it has agreed to acquire auto parts supplier Autocam Corp. in a deal valued at $300 million.    More

Image

Chinese auto suppliers growing in US

July 24, 2014 4:17 pm ET

Two China-based automotive suppliers are expanding in the U.S., according to information released by the Michigan Economic Development Corp.    More

Market Reports

Plastics Recyclers Data Report & Directory

This exclusive MS Excel database contains all the companies from Plastics News' ranking of top North American Recyclers and Brokers by reprocessed volume and also includes a directory with materials processes, services offered and company contact information. Data is based on primary research by PN editorial staff.

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

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

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