In a major deal in automotive plastics mold making circles, Tooling Tech Group has acquired Century Tool Group, which includes two Michigan operations: Century Tool & Gage Co. in Fenton and CTG Bel-Kur Automation in Temperance.
Fort Loramie, Ohio-based Tooling Tech claims the deal makes it North America's largest tooling provider.
Tooling Tech announced the deal April 19. Terms were not disclosed.
Century Tool Group is an engineering and manufacturing company that provides compression molds, automation equipment and fixtures to North American automotive, heavy truck and other markets, specializing in Class A composite exterior parts.
Century Tool & Gage makes medium to large compression molds. CTG Bel-Kur is the company's automation division, providing automated assembly equipment and fixtures for downstream in compression molding lines.
Tony Seger, who founded Tooling Tech in 1982, said Century Tool is "a world-class company that fits perfectly with our 'whatever it takes, on-time, every-time' operating model."
Seger said the deal helps Tooling Tech expand into the company's already-strong position in the automotive, heavy truck and automation markets.
Tooling Tech makes compression molds and molds for blow molding, thermoforming and structural foam. The company also makes die-cast tooling and stamping dies. Divisions of Tooling Tech Group include Tooling Technology, Fremont Plastic Molds, Majestic Industries, G.H. Tool, and now Century Tool & Gage and CTG Bel-Kur Automation.
Tooling Tech Group makes a broad range of tooling to make vehicle components, including soft-trim, powertrain components, structural stampings, valve bodies, dashboard and under-hood components, acoustic panels, roof components, liquid reservoirs, truck components and wheel liners.
Tooling Tech ranked No. 3 in the most recent Plastics News survey of North American mold makers, with sales of $115 million. Century Tool ranked No. 24, with sales of $35 million.