Acsys Technologies Inc. has launched a ``significant investment'' in its injection molding capabilities to match incoming automotive contracts.
Acsys, a private Southfield company formed last year by B.N. Bahadour, has obtained $385 million worth of new business contracts to produce fully assembled front and rear fascia subsystems through the 2008 model year.
Acsys purchased the operations of Peregrine Oshawa Inc. of Oshawa, Ontario, in September, providing it with plastics- and metal-processing operations. It now is upgrading the molding equipment and a paint line in Oshawa for future production. The company would not disclose details of the upgrade.
Company executives maintain they are in a strong position to benefit as carmakers outsource larger portions of the vehicle exterior. With both plastics and metal capabilities, Acsys can integrate all of the components of a front or rear fascia system, and handle it in-house.
``These [new contracts] are providing a foundation for Acsys Technologies' future growth,'' said Robert A. Smart, executive vice president sales, marketing and engineering.