By: Rhoda Miel
May 29, 2013
BINGHAM FARMS, MICH. — Detroit Technologies Inc. has added to its capabilities in auto interiors parts with the acquisition of Formed Fiber Technologies Inc.
DTI, which is based in Bingham Farms, has injection molding within its DTI Plastics unit in Macomb, Mich.
Formed Fiber Technologies has in-house thermoforming for trunk trim and wheel wells in addition to producing non-woven material used as cover stock in several interior parts. The Auburn, Maine, company also has operations in Sidney, Ohio, and Sumter, S.C., and has 766 employees.
FFT has been a supplier to DTI since DTI opened in 1996.
“This fits nicely with the core capabilities in automotive interiors we have been building,” said Bill Vaughn, DTI’s vice president, in a May 22 news release announcing the deal. “This fortifies our position as a supplier who can offer automotive manufacturers vertically integrated solutions.”
The companies did not disclose the purchase price. Consulting group BBK Holdings was an adviser on the sale.