By: Charlotte Eyre
January 16, 2013
AMBERG, GERMANY (Jan. 16, 2:25 p.m. ET) — German injection molder Grammer AG plans to increase its presence in the NAFTA automotive market by investing in a new production plant.
The company has not yet decided where the plant will be located as it is “evaluating different options”, spokesman Ralf Hoppe told European Plastics News.
“The plant will either be in the U.S. or Mexico, where we already have two plants,” he said. “We are at the moment looking at different options in terms of the value chain.”
Amberg-based Grammer says its automotive business is strong in the NAFTA region, accounting for 20 percent of total sales, partly because of the popularity of German premium automotive brands such as Audi.
The firm already has a sales office in Michigan, as well as plants in Mexico.
In November Grammer said sales increased by 6 percent from 810 million euros in the first three quarters of 2011 to 859 million euros in the same period of 2012. In the third quarter, group sales rose from 273 million euros in 2011 to 285 million euros in 2012. This was “despite an ongoing cool-down in core markets,” Grammer said.