Eissmann Group Automotive (EGA) has wrapped up its acquisition of insolvent injection molder Minda KTSN Plastic Solutions GmbH & Co. KG by taking over a third KTSN plant, this one in Querétaro, Mexico.
The move, announced June 21, adds to Eissmann's purchase earlier this year of Pirna, Germany-based Minda KTSN's plants there and in Bydgoszcz, Poland. Those plants employ about 400 total, while the Querétaro site employs about 130. Minda KTSN specializes in kinematics technology and produces cup holders, glove boxes, seat-back panels and other plastic components.
Minda KTSN filed for insolvency in June 2020. The company had been a subsidiary of auto supplier Minda Corp. Ltd. of Noida, India.
Eissmann, which makes laminated leather automotive interior components such as air bag covers and seat trim, noted its recent acquisitions significantly expand its product offerings. The Bad Urach, Germany-based company announced in May it also had acquired Nuremberg, Germany-based Ingeneers CaR GmbH, which develops custom embedded electronic control systems.
Eissmann Group Automotive now has 15 sites, including its U.S. headquarters in Troy, Mich. The company, which employs more than 5,000 worldwide, said it has annual sales of 470 million euros ($561.2 million).