Brazilian auto supplier Autometal SA has purchased a majority ownership in Century Plastics Inc., a Michigan-based supplier of injection and compression molded auto parts.
CPI is becoming part of a plastics auto supply firm with four factories in Brazil and one in Mexico. The company, based in the Detroit suburb of Shelby Township, sold a 65 percent stake, according to Lincoln International LLC, a Chicago-based consulting firm that assisted CPI with the deal.
Autometal SA of Diadema, Brazil, is itself a subsidiary of Spain's CIE Automotive SA, which has additional plastics operations in Spain, Portugal, Czech Republic, Russia and China. The global company, with headquarters in Bilbao, has an engineering office in Livonia, Mich., but CPI will be its first production site in the United States.
In addition to plastics, CIE Automotive and Autometal SA supply metal and painted automotive parts.
Their plastics operations supply a variety of interior and exterior trim using injection molding, vacuum forming, multishot molding and gas-assist molding.