Automotive supplier Vintech Industries Inc. has acquired Rehau Automotives' European sealing and extrusion business unit as a part of a growth plan that includes future expansion and investments.
"We were hand-selected to work with [Rehau] on [divesting from the extrusion business,]" Jim Schoonover, president and CEO of Vintech, told Plastics News in an interview.
"They didn't take this division to market. They felt that Vintech shared their same values and wanted someone to take employees under their wing and honor customer contracts," he said.
Rehau was previously a customer of Vintech's, Schoonover added.
"They've always had … really strong integrity," he said. "The opportunity to buy their Czech Republic facility is really cool because it's exactly what we do here."
The Rehau facility in Jevíčko, Czech Republic, which is about 124 miles from Prague, is expected to reach about 15 million euros ($17 million) in sales this year, Schoonover said.
The facility features several plastic extrusion lines, roll-forming coextrusion equipment, stretch bending of coextruded parts, in-line fabrication of plastic extruded parts and some insert injection molding equipment.
"We're looking forward to growing … relationships" with Rehau's customers, which include BMW, Ford and Toyota, Schoonover said.
On Sept. 1, the facility will rebrand under Vintech Industries s.r.o., and add more than 100 of Rehau's former employees to Vintech's workforce.
Vintech declined to disclose terms of the deal.
The company plans to invest "several million dollars … to grow both in the Czech Republic and our plant in Portugal," Schoonover said.
"The Czech site perfectly complements our European production network, offering us even more opportunities," he said in a news release. "We are excited to welcome our new colleagues, customers and suppliers into the Vintech family."
"This expansion will enhance our ability to serve our customers with innovative solutions and strengthens our position in the European market," the news release by Vintech said.
As Vintech nears $100 million in sales this year, Schoonover said, it also plans to expand its Almont, Mich., facility in the near future. It is "building and buying … several million dollars in new equipment," including three new roll-form coextrusion lines in Michigan
Detroit-based Vintech Industries has three plants in Michigan, one in Newnan, Georgia, one in Monterrey, Mexico, one in Ningbo, China, and one in Lisbon, Portugal. The Czech Republic location is its eighth manufacturing location.
Vintech holds several patents in the plastic industry and has more than 100 extruders producing roof joint strips, retaining rails, and window shaft covers. It also supplies injection molding and roll-formed functional and design parts to more than 150 global customers. The company employs about 500 people.
Rehau Automotive develops, manufactures, and supplies exterior, bumper, and polymer functional systems. It has 7,000 employees across 25 locations in nine countries. Rehau Automotive is part of Rehau Group, which employs about 20,000 people and generates annual sales exceeding 4.5 billion euros ($5 billion).