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

Houston Plastic continues to grow with new press, controlled production area

October 1, 2014 11:32 am ET

Custom injection molder Houston Plastic Products Corp. has extended its clamp tonnage range and added an environmentally controlled molding area.    More

Image

German auto supplier Benecke-Kaliko to build second plant in China

October 1, 2014 10:24 am ET

German auto supplier Benecke-Kaliko AG is set to build its second Chinese facility, in Changzhou, to produce surface materials for automotive...    More

Image

RJG buys UK training group G&A

September 30, 2014 11:10 am ET

G&A Moulding Technology Ltd., a United Kingdom-based training and consultancy group, has been bought by RJG Inc., the U.S.-based training business.    More

Image

Ohio molder Denbro Plastics moves to new location

September 29, 2014 6:17 pm ET

Logo products injection molder Denbro Plastics Co. has moved to another plant within Toledo, Ohio, to streamline production and improve efficiency.    More

Image

EEOC suing movable wall maker Hufcor

September 29, 2014 3:09 pm ET

Movable wall and partition maker Hufcor Inc. is facing a federal lawsuit from the U.S. Equal Employment Opportunity Commission after violating federal...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

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

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

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

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