Dana Corp. has acquired Thermoplast+Apparatebau GmbH, a German injection molder, to expand its market for automotive sealing products in Europe. Thermoplast, which custom molds valve covers and air vent assemblies, in Idstein, complements Dana's November purchase of Reinz-Dichtungs GmbH, a traditional gasket maker in Neu-Ulm, Germany, said spokesman Gary Corrigan. But Thermoplast also brings new custom molded components, such as interior trim and exterior parts, to Dana's product offerings, he said.
Dana, based in Toledo, Ohio, announced the acquisition Dec. 18. Terms of the acquisition were undisclosed.
With sales of $35 million, the German molder is Dana's second plastics company. Early this year it bought Mohawk Plastics Inc. in Marine City, Mich., an injection molder of gaskets, trim and other parts for U.S. carmakers and Japanese transplants.
In a prepared statement, Charles McNamara, president of Dana's Sealing Products Group, said the move will consolidate his firm's leadership position as a supplier of integrated sealing components, and fits its strategy of being ``the only company in the world that can ... seal the entire engine.''
That capability reduces cost and assembly time for carmakers, Corrigan said
Sales to General Motors Corp., Porsche, Volkswagen and BMW represent more than 60 percent of Thermoplast's business, with the rest coming from sealing and other components for large industrial machines.
That market mix is similar to Dana's — with 80 percent of its sales from auto components, for cars and light and heavy trucks, and 20 percent from a broad range of industrial applications, such as electrical controls and fluid power products — a growing business, Corrigan said.
At its 151,200-square-foot plant in Idstein, Thermoplast employs more than 200. Dana's operates 21 sealing products plants worldwide in nine countries, including Brazil and Spain.
Total corporate sales for 1995 were $7.6 billion.