Excel Industries Inc. expects to nearly double its custom injection molding business by acquiring Anderson Industries Inc. of Rockford, Ill. Excel of Elkhart, Ind., agreed to buy Anderson for undisclosed terms in a deal it expects to finalize late this month or in early April. Anderson is a holding company that owns Atwood Indus-tries Inc., a supplier to original equipment manufacturers of cars and recreational vehicles.
Excel secretary and treasurer Joseph Robinson estimated his firm's annual injection molding sales will reach $85 million to $90 million with the acquisition. Atwood's molding plants in Jonesville, Mich., and Henry, Tenn., produce automotive and consumer electronics parts. It makes fan covers, trim, taillight assemblies and other parts for its major auto customers, Honda of America Manufacturing Inc. and Toyota Motor Manufacturing U.S.A. Inc.
Robinson said Atwood will expand Excel's molded product line and customer base.
Excel's molding facilities in Mishawaka, Ind., and Bowling Green, Ky., make suspension parts, door handles, vacuum distribution components and other parts for General Motors Corp. and Chrysler Corp.
Plastics are a relatively small part of each firm's business, which will total about $900 million when Atwood's anticipated sales of $375 million are added to Excel's this year. Atwood's products include major appliances and hardware for recreational vehicles, manufactured housing and nonauto vehicular markets. Excel claimed Atwood is the largest U.S. manual seat track supplier for cars and trucks. Atwood has 13 U.S. plants and one each in Mexico and Italy.
Excel claimed to be the leading independent supplier of window and door systems to auto, truck and recreational vehicles in North America. It trades on the New York Stock Exchange.
James Futterknecht, Excel's chief executive officer, said the deal will broaden Excel's injection molding base, will provide new products for its automotive business and will boost opportunities in recreational vehicles.
