Koch buys stake in Guardian Industries

By Rhoda Miel
News Editor

Published: October 5, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Automotive, Construction, Injection Molding

AUBURN HILLS, MICH. (Oct. 5, 2 p.m. ET) — Guardian Industries Corp., the parent company of injection molder SRG Global Inc., has agreed to sell a minority interest to a subsidiary of Koch Industries Inc.

Guardian, based in Auburn Hills, would sell part of its shares to KGCI LLC, a Wichita, Kan.-based unit of Koch.

Koch’s other investments include ownership of Georgia-Pacific Corp. of Atlanta, which makes wood products used extensively in the construction industry.

Guardian’s major business is in glass used in the construction and auto industries. SRG is a subsidiary that specializes in plated plastics for auto trim.

The deal is scheduled to close by the end of this year, Guardian said in an Oct. 4 news release.

Ratings analysts with both Moody’s Investors Service and Standard & Poor’s Financial Services LLC placed Guardian on ratings watch for review with negative implications following the announcement.

Moody’s said its review will focus on the potential for capital structure changes, potential strategic changes and Guardian’s liquidity profile. Moody’s currently rates Guardian as Baa 1/P-2, noting its historically low debt-to-capitalization ratio, conservative financial policies, global diversification and strong market placement.


Comments

Koch buys stake in Guardian Industries

By Rhoda Miel
News Editor

Published: October 5, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

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

Meredian merging with Danimer Scientific

July 24, 2014 1:59 pm ET

Bioplastics maker Meredian Inc. is merging with its sister firm, Danimer Scientific LLC.    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