Skip to main content
Sister Publication Links
  • Sustainable Plastics
  • Rubber News
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Processor News
    • Suppliers
    • More News
    • Digital Edition
    • End Markets
    • Special Reports
    • Newsletters
    • Resin pricing news
    • Videos
    • Injection Molding
    • Blow Molding
    • Film & Sheet
    • Pipe/Profile/Tubing
    • Rotomolding
    • Thermoforming
    • Recycling
    • Machinery
    • Materials
    • Molds/Tooling
    • Product news
    • Design
    • Mergers & Acquisitions
    • Sustainability
    • Public Policy
    • Material Insights Videos
    • Numbers that Matter
    • Automotive
    • Packaging
    • Medical
    • Consumer Products
    • Construction
    • CEO Issue
    • Diversity
    • Best Places to Work
      • 2022 winners
    • Processor of the Year
    • Rising Stars
    • Women Breaking the Mold
      • 2022 class
  • Opinion
    • The Plastics Blog
    • Kickstart
    • One Good Resin
    • Pellets and Politics
    • All Things Data
    • Viewpoint
    • From Pillar to Post
    • Perspective
    • Mailbag
    • Fake Plastic Trees
  • Shop Floor
    • Blending
    • Compounding
    • Drying
    • Injection Molding
    • Purging
    • Robotics
    • Size Reduction
    • Structural Foam
    • Tooling
    • Training
  • Events
    • K Show Livestream
    • Plastics News Events
    • Industry Events
    • Injection Molding & Design Expo
    • Livestreams/Webinars
    • Editorial Livestreams
    • Ask the Expert
    • Plastics News Events Library
    • Processor of the Year submissions
    • Plastics News Executive Forum
    • Injection Molding & Design Expo
    • Plastics News Caps & Closures
    • Women Breaking the Mold Networking Forum
    • Plastics in Automotive
    • PN Live: Mergers and Acquisitions
    • Polymer Points Live
    • Numbers that Matter Live
    • Plastics in Politics Live
    • Sustainable Plastics Live
    • Plastics Caps & Closures Library
    • Plastics in Healthcare Library
    • Women Breaking the Mold Networking Forum Library
  • Resin Prices
    • All Resins
    • Commodity TPs
    • High Temp TPs
    • ETPs
    • Thermosets
    • Recycled Plastics
    • Historic Commodity Thermoplastics
    • Historic High Temp Thermoplastics
    • Historic Engineering Thermoplastics
    • Historic Thermosets
    • Historic Recycled Plastics
  • Rankings & Data
    • Injection Molders
    • Blow Molders
    • Film Sheet
    • Thermoformers
    • Pipe Profile Tubing
    • Rotomolders
    • Mold/Toolmakers
    • LSR Processors
    • Recyclers
    • Compounders - List
    • Association - List
    • Plastic Lumber - List
    • All
  • Directory
  • Custom
    • Sponsored Content
    • LS Mtron Sponsored Content
    • Conair Sponsored Content
    • KraussMaffei Sponsored Content
    • ENGEL Sponsored Content
    • White Papers
    • Classifieds
    • Place an Ad
    • Sign up for Early Classified
MENU
Breadcrumb
  1. Home
  2. News
News
September 15, 1997 02:00 AM

MAGNA PAYING $101 MILLION FOR YMOS DIVISION IN EUROPE

Joseph Pryweller PLASTICS NEWS STAFF
  • Tweet
  • Share
  • Share
  • Email
  • More
    Reprints Print

    DETROIT — Magna International Inc. has elbowed its way deeper into European automotive parts production by agreeing to buy the plastics division of one of that continent's major suppliers.

    The Markham, Ontario-based firm signed a letter of intent Sept. 6 to buy the Plastics Products Division of Ymos AG of Obertshausen, Germany, for $101 million. The transaction includes four plastics processing plants, three in Germany and one in Belgium.

    The sale is scheduled to be completed by the end of this year, pending regulatory approval, said Ymos spokesman Peter Ruecker.

    The deal would vault Magna into the ranks of a full-service interior and exterior parts supplier in Europe, said C. Dennis Bausch, Magna executive vice president for marketing and planning. While Magna has 41 European plants and 8,400 employees there, it was missing a few interior and exterior pieces, Bausch said.

    ``The [Ymos] sale will help fill out our product mix there so we can become more of a systems supplier,'' Bausch said before a Sept. 10 speech at a meeting of the Sales & Marketing Executives of Detroit.

    ``That helps us better serve our customers as they shift to Europe.''

    Bausch added that the company might purchase one more European supplier and is looking to Latin America for further acquisitions.

    That possibility was echoed by equity analyst Gregory Misztela, who said he expects Magna to continue to expand worldwide.

    ``This company is on a mission to become one of the major global players in the industry. They have enormous financial resources and are opportunity-driven to acquire companies that offer a good strategic fit,'' said Misztela of Griffiths McBurney & Partners of Toronto.

    Other large suppliers, including Southfield, Mich.-based Lear Corp. and Milwaukee-based Johnson Controls Inc., have major interior parts operations in Europe.

    The Ymos facilities make injection molded instrument panels, bumper systems and interior and exterior plastic trim. The unit recorded 1996 sales of $182 million.

    The firm, which uses polypropylene and engineering resins, won more than $60 million in contracts during 1996. Among the carmakers it supplies are Audi, BMW, Ford, Mercedes-Benz, Adam Opel, PSA/Peugeot-Citroen, Toyota and Volkswagen.

    Ymos is a division of Brussels, Belgium-based Cockerill Sambre SA, a maker of steel parts. Ymos also includes divisions that make automotive door panels and lock systems. Those two groups are not for sale, Ruecker said.

    ``We decided to sell our plastics division for strategic reasons,'' Ruecker said. ``It is not part of our core products, which use more metal than plastics.''

    The Ymos plastics parts plants, which employ 1,500, are in Obertshausen, Straubing and Eder Oberstein, Germany, and near Brussels, Belgium, Ruecker said. Square-footage figures and the number of injection presses were unavailable.

    In May, Magna bought seat supplier Tricom Group Holdings Ltd. of Nottingham, England, for about $72 million. At the time, company officials said the Tricom purchase could act as a catalyst for other acquisitions.

    In the past nine months, the supplier also purchased interiors supplier Georg Naher GmbH of Kaiserslautern, Germany, and bumper systems maker Caradon Rolinx plc of London.

    In late August, Magna also bought a 70 percent interest in injection molder Moldes Para Plastico Ayareb SA de CV of Cuautitl n, Mexico. The company's Decoma Exterior Systems group will operate the Ayareb plant.

    Magna recorded $5.85 billion in 1996 worldwide sales. Of that, European sales accounted for $1.5 billion, up from $200 million four years ago.

    RECOMMENDED FOR YOU
    DOJ files criminal charges against ABC Polymer over worker death
    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Plastics News would love to hear from you. Email your letter to Editor at [email protected]

    Most Popular
    1
    Private equity buyer HIG outbids rivals for Avient's distribution unit
    2
    Material Insights: Despite one big increase, more resin prices now poised for decreases
    3
    Charter Next Generation buys Ohio films business
    4
    Industry asks court to quash Canada's single-use plastics ban
    5
    Numbers that Matter Live - August 2022
    SIGN UP FOR TO RECEIVE THESE EMAILS AND ENEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Plastics News delivered straight to your inbox, free of charge.

    Subscribe today

    Subscribe to Plastics News

    Subscribe now
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter
    • Instagram

    Plastics News covers the business of the global plastics industry. We report news, gather data and deliver timely information that provides our readers with a competitive advantage.

    Contact Us

    1155 Gratiot Avenue
    Detroit MI 48207-2997

    Customer Service:
    877-320-1723

    Resources
    • About
    • Staff
    • Editorial Calendar
    • Media Kit
    • Data Store
    • Digital Edition
    • Custom Content
    • People
    • Contact
    • Careers
    • Sitemap
    Related Crain Publications
    • Sustainable Plastics
    • Rubber News
    • Urethanes Technology
    • European Rubber Journal
    • Tire Business
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Processor News
        • Injection Molding
        • Blow Molding
        • Film & Sheet
        • Pipe/Profile/Tubing
        • Rotomolding
        • Thermoforming
        • Recycling
      • Suppliers
        • Machinery
        • Materials
        • Molds/Tooling
        • Product news
        • Design
      • More News
        • Mergers & Acquisitions
        • Sustainability
        • Public Policy
        • Material Insights Videos
        • Numbers that Matter
      • Digital Edition
      • End Markets
        • Automotive
        • Packaging
        • Medical
        • Consumer Products
        • Construction
      • Special Reports
        • CEO Issue
        • Diversity
        • Best Places to Work
          • 2022 winners
        • Processor of the Year
        • Rising Stars
        • Women Breaking the Mold
          • 2022 class
      • Newsletters
      • Resin pricing news
      • Videos
    • Opinion
      • The Plastics Blog
      • Kickstart
      • One Good Resin
      • Pellets and Politics
      • All Things Data
      • Viewpoint
      • From Pillar to Post
      • Perspective
      • Mailbag
      • Fake Plastic Trees
    • Shop Floor
      • Blending
      • Compounding
      • Drying
      • Injection Molding
      • Purging
      • Robotics
      • Size Reduction
      • Structural Foam
      • Tooling
      • Training
    • Events
      • K Show Livestream
      • Plastics News Events
        • Plastics News Executive Forum
        • Injection Molding & Design Expo
        • Plastics News Caps & Closures
        • Women Breaking the Mold Networking Forum
        • Plastics in Automotive
      • Industry Events
      • Injection Molding & Design Expo
      • Livestreams/Webinars
        • PN Live: Mergers and Acquisitions
      • Editorial Livestreams
        • Polymer Points Live
        • Numbers that Matter Live
        • Plastics in Politics Live
        • Sustainable Plastics Live
      • Ask the Expert
      • Plastics News Events Library
        • Plastics Caps & Closures Library
        • Plastics in Healthcare Library
        • Women Breaking the Mold Networking Forum Library
      • Processor of the Year submissions
    • Resin Prices
      • All Resins
      • Commodity TPs
        • Historic Commodity Thermoplastics
      • High Temp TPs
        • Historic High Temp Thermoplastics
      • ETPs
        • Historic Engineering Thermoplastics
      • Thermosets
        • Historic Thermosets
      • Recycled Plastics
        • Historic Recycled Plastics
    • Rankings & Data
      • Injection Molders
      • Blow Molders
      • Film Sheet
      • Thermoformers
      • Pipe Profile Tubing
      • Rotomolders
      • Mold/Toolmakers
      • LSR Processors
      • Recyclers
      • Compounders - List
      • Association - List
      • Plastic Lumber - List
      • All
    • Directory
    • Custom
      • Sponsored Content
      • LS Mtron Sponsored Content
      • Conair Sponsored Content
      • KraussMaffei Sponsored Content
      • ENGEL Sponsored Content
      • White Papers
      • Classifieds
        • Place an Ad
        • Sign up for Early Classified