Continental Structural Plastics buying 5 Magna SMC plants

By Kerri Jansen
Staff Reporter

Published: July 17, 2014 4:35 pm ET
Updated: July 30, 2014 2:23 pm ET

Image By: Continental Structural Plastics Frank Macher

Related to this story

Topics Mergers & Acquisitions, Canada, Mexico, United States, Automotive, Automotive/transportation
Companies & Associations Magna International Inc.

Automotive and construction supplier Continental Structural Plastics Inc. has signed an agreement to buy five sheet molding compound facilities from the exteriors unit of Magna International Inc.

CSP manufactures lightweight SMC structural components, automotive body panels and other products, with annual sales of $600 million, according to a company news release.

The deal includes Aurora, Ontario-based Magna’s manufacturing facilities in Lenoir, Newton and Salisbury, N.C.; and Saltillo, Mexico, as well as a compounding facility in Grabill, Ind. Together, the facilities employ more than 1,000 people.

CSP, based in Auburn Hills, Mich., said the acquisition will make it the world’s largest sheet molding compound manufacturer.

“We have a solid foundation upon which we are building a bigger, more competitive company,” CSP chairman and CEO Frank Macher said in a statement.  “Through this acquisition, we gain significant heavy truck and consumer products expertise, as well as an expanded manufacturing footprint and broad range of manufacturing and technical capabilities.”


Comments

Continental Structural Plastics buying 5 Magna SMC plants

By Kerri Jansen
Staff Reporter

Published: July 17, 2014 4:35 pm ET
Updated: July 30, 2014 2:23 pm ET

Post Your Comments


Back to story


More stories

Image

Investment firm buys Ontario cap molder

October 23, 2014 2:01 pm ET

A company whose varied interests include food and refrigerated transportation businesses is now moving into plastic caps.    More

Image

Toyoda Gosei's growth strategy places a big focus on North America

October 23, 2014 1:21 pm ET

Sometimes, knowing your weaknesses is just as important as knowing your strengths. And if 2014 is any indication, automotive supplier Toyoda Gosei Co....    More

Image

FTC warns bag makers to take care before making biodegradeability claims

October 23, 2014 12:30 pm ET

Makers of oxodegradable or oxo-biodegradable plastic bags should consider themselves on notice, according to the U.S. Federal Trade Commission.    More

Image

Report: Private equity companies may seek to buy Bayer MaterialScience

October 23, 2014 10:56 am ET

A number of investment groups are reported to be interested buying Bayer AG's MaterialScience operation, valued at around 10 billion euros ($12.6...    More

Image

Bergen International adds manufacturing space, extrusion line

October 22, 2014 3:42 pm ET

Chemical foaming agent manufacturer Bergen International LLC recently doubled its manufacturing capacity, added an extrusion line and laboratory space...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

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 analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

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

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