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

New medical firm buys Clairson Plastics

September 19, 2014 4:33 pm ET

Custom injection molder Clairson Plastics is being sold to a new start-up that plans to dive into the medical market with a new dialyzer, a key...    More

Image

Plasan investing in capacity, jobs to supply auto market with carbon fiber

September 19, 2014 3:05 pm ET

Growth in the emerging automotive market for carbon-fiber composites has spurred a $29 million investment in a Walker, Mich., factory    More

Image

Hong Kong's TK eyes expansion, may buy Nypro Tool operation

September 19, 2014 2:49 pm ET

Hong Kong-based mold maker and plastics processor TK Group (Holdings) Ltd. said it's reached a tentative agreement to buy a tooling factory in...    More

Image

Toyoda Gosei expanding in Mexico

September 19, 2014 2:33 pm ET

Toyoda Gosei North America Corp. is investing $67 million in a 398,000-square-foot plant in central Mexico to supply the automotive industry with...    More

Exo-s buys injection and blow molder in Mexico, expands footprint

September 19, 2014 2:15 pm ET

Custom molder Exo-s Inc. has bought an injection and blow molding operation in San Juan del Rio, Querétaro, Mexico.    More

Market Reports

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

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

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

Upcoming Plastics News Events

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

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

More Events