Canadian auto components supplier Plasman Group is buying an injection molding plant in South Carolina from Chinese-owned Minghua USA, to add to its business with European car makers in North America.
Windsor, Ontario-based Plasman said in an Oct. 13 announcement that the plant in Greer, S.C., which paints exterior trim and has capabilities for full fascia and bumper production, is its fourth acquisition since 2015 and gives it 17 manufacturing sites worldwide.
Terms were not disclosed.
"Adding the Greer manufacturing site to our portfolio grows Plasman's planned footprint and allows us to expand our current European customer relationships with BMW and Volvo here in North America," David Wiskel, Plasman president and CEO. "Additionally, through the acquisition Plasman adds Volkswagen as a new customer with upcoming product launches in 2022 and 2023."
The plant, in the Velocity Industrial Park, has 16 injection molding machines with up to 4,000 tons of clamping force, and can make 1 million bumpers per year. It also has painting, bonding and assembly capabilities.
"Strategically the site rounds out our Southern USA footprint and supports some of the most advanced automotive products on the market, including full exterior for the upcoming launch of the new BMW G09 and a complex exterior package for the Volvo XC90 electric vehicle," said Plasman President for North America Tim Berezowski.
In December, Minghua announced it was signing a lease agreement for 134,000 square feet at a new industrial park in Duncan, S.C., near the Greer location. Minghua USA is a subsidiary of China's Jiangnan Mold Plastic Technology Corp
Plasman was 27th in the 2021 Plastics News ranking of North American injection molders with an estimated $325 million in sales and nine manufacturing plants in Canada, Mexico and the United States. It also has manufacturing operations in Europe.
In late 2020, the company said it was combining all of its 17 global operations under the Plasman brand, including the tool making company Build-A-Mold Ltd., also in Windsor.
That company ranked 24th in the 2020 listing of North American mold building firms, with an estimated $40 million in sales.