Koch buys stake in Guardian Industries

By Rhoda Miel
News Editor

Published: October 5, 2012 6:00 am ET

Related to this story

Topics Automotive, Construction, Mergers & Acquisitions, 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

Image

Faurecia Seating grows in Kentucky

September 12, 2014 12:00 pm ET

Faurecia Seating LLC, a division of French-based Faurecia SA, will build a new manufacturing facility in Simpsonville, Ky.    More

Image

Germany's Lehmann & Voss buys U.S.-based Performance Compounding

September 12, 2014 11:36 am ET

German compounding firm Lehmann & Voss & Co. KG has acquired Performance Compounding LLC for an undisclosed price.    More

Image

Behr-Hella set to open Bulgarian auto parts plant

September 12, 2014 10:20 am ET

German automotive components manufacturer Behr-Hella Thermocontrol (BHTC) is set to launch a new 22 million euro ($28.4 million) vehicle air...    More

Image

ATS goes global with acquisition of M+W Process Automation

September 10, 2014 2:49 pm ET

ATS Automation Tooling Systems Inc., a maker of factory automation systems in Cambridge, Ontario, has agreed to buy a German company M+W Process...    More

Image

DS Smith adds to footprint with Croatian injection molding acquisition

September 10, 2014 2:05 pm ET

DS Smith plc, the London-headquartered packaging giant, has announced the acquisition of Kaplast dd, a Croatian injection molding company.    More

Market Reports

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

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

Upcoming Plastics News Events

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

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

More Events