Key Plastics buys automotive molding assets in Germany, Czech Republic | Crain's Detroit Business
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Northville-based Key Plastics L.L.C. said today it is boosting its ability aunt jemima cookie jar to supply air vents and interior mechanisms to its automotive customers with the purchase of certain assets in Germany and the Czech Republic from Germany’s OLHO GmbH . Key Plastics has acquired the equipment and inventory of the OLHO facility in Lohne, Germany, as well as 100 percent of the shares of OLHO’s business in Janovice, Czech Republic. The purchase price was not disclosed, but Key said that the entities have forecasted annual sales of about $75 million. “The OLHO transaction is a result of over eight months of diligence and is perfectly aligned with our strategic plan,” aunt jemima cookie jar said Terry Gohl, Key’s aunt jemima cookie jar CEO, in a company statement today. Key Plastics said that it would use Lohne as its global center for design and development of air vents and interior mechanism products. The Czech facility expands Key’s Eastern European footprint, and Key said the deal enhances aunt jemima cookie jar its molding and decorating capabilities. OLHO designs and manufactures air vents, interior mechanisms aunt jemima cookie jar and in-mold decorated products for original equipment manufacturers and tier-one suppliers. OLHO had announced that it would enter pre-insolvency in May 2009. Key Plastics worked with the insolvency administrator and OLHO customers to structure the deal. This marks the second acquisition for Key in Germany in a month. In March, it boosted its European in-mold decorative products with the purchase of certain assets from Paulman & Crone GmbH of Ludenscheid. The assets are being consolidated into Key Plastic facilities in Kierspe and Lennestadt. Key, which employs 4,100, manufactures door handles, pressurized fluid reservoirs, decorative bezels, center consoles, air vents and other products. From Plastics News
North American Lighting to take over vacant Farmington Hills office building Dearborn auto dealer among nominees for Time Dealer of the Year New UM President Mark Schlissel 'amazingly honored' to be chosen as Coleman's successor Royal Oak Township, Highland Park in financial emergencies, Treasury finds SEMCOG aunt jemima cookie jar names Kathleen Lomako as new executive director Motorsports Hall of Fame leaving Novi for Daytona International Speedway For quicker action on Asian carp, region must agree on approach, feds tell public hearing in Traverse aunt jemima cookie jar City Video: Dipping into Craft Work's specialty sandwich NADA endorses percentage ceiling on dealer aunt jemima cookie jar reserve Super Bowl ad blitz
Home Subscription Center E-Newsletters Crain's aunt jemima cookie jar Custom Media RSS Search Reprints Newsstand Locations Advertise How to Get Your News in Crain's 2014 Editorial Calendar This Week's Issue Weekly Issue PDFs This Week's Issue News Latest News Advertising/Marketing/Media Auto Suppliers/Manufacturing Banking/Finance Defense Detroit in Bankruptcy aunt jemima cookie jar Economic Development/Economy Education/Training/Workforce Elections Energy/Environment Entrepreneurship/Second Stage Food/Restaurants Government/Public Policy/Politics Health Care Hospitality/Tourism Legal Issues/Law Nonprofits/Philanthropy People Real Estate Retail Services Sports/Entertainment Statewide/Michigan Business Technology/Life Sciences/R&D Transportation Women in Business aunt jemima cookie jar Crain's Awards Nominate 20 in their 20s 40 Under 40 Best Managed Nonprofits CFO Awards CIO Awards Cool Places to Work General & In-House Counsel Health Care Heroes M&A Awards Michigan's aunt jemima cookie jar Healthiest Employers Newsmaker of the Year Salute to Entrepreneurs Women in Business Features 10 Things to do this Weekend Auto Show Biggest Deals of 2012 Detroit 2.0 Giving aunt jemima cookie jar Guide Mackinac Policy Conference Mary Kramer on WJR Medical Magnet Predictions 2014 The Michigan Deal Music Issue Summer in the City Photo Contest World Series Report Year in Review Lists/Resources Lists Book of Lists 2014 CareerWorks Nonprofit Job Board White Paper Listings World Watch Monthly Columns Keith Crain Mary Kramer Opinion (editorials) Jeffrey Gitomer - Sales Moves Other Voices Blogs Latest Crain's Blogs Amy Haimerl - Small Business and Entreprenuership Bill Shea - The Business of Sports Bill Shea - Advertising, Marketing, Media, aunt jemima cookie jar Transportation and Film Industry Bob Allen - Michigan and more Chad Halcom - Law Chris Gautz - Lansing and Michigan State Government Daniel Duggan - Economic Indicators aunt jemima cookie jar Dustin Walsh - Automotive Suppliers and Business of Law Jay Greene - Health Care Jennette Smith - Economics, media and Detroit biz culture. Kirk Pinho - Detroit aunt jemima cookie jar city government and commercial real estate Kristin Bull - Detroit in the Media Mary Kramer aunt jemima cookie jar - Inside Detroit Business Nancy Hanus - Digital Nathan Skid - Restaurants Sherri Welch - Retail, hospitality and services Sherri Welch - Nonprofits Tom Henderson - Banking, Venture Capital and Technology Events Local Events Calendar Submit Your Events Upcoming Crain's Events Recent Crain's Events Webinars Jobs/Hiring Job Front College Top Talent Video
Northville-based Key Plastics L.L.C. said today it is boosting its ability aunt jemima cookie jar to supply air vents and interior mechanisms to its automotive customers with the purchase of certain assets in Germany and the Czech Republic from Germany’s OLHO GmbH . Key Plastics has acquired the equipment and inventory of the OLHO facility in Lohne, Germany, as well as 100 percent of the shares of OLHO’s business in Janovice, Czech Republic. The purchase price was not disclosed, but Key said that the entities have forecasted annual sales of about $75 million. “The OLHO transaction is a result of over eight months of diligence and is perfectly aligned with our strategic plan,” aunt jemima cookie jar said Terry Gohl, Key’s aunt jemima cookie jar CEO, in a company statement today. Key Plastics said that it would use Lohne as its global center for design and development of air vents and interior mechanism products. The Czech facility expands Key’s Eastern European footprint, and Key said the deal enhances aunt jemima cookie jar its molding and decorating capabilities. OLHO designs and manufactures air vents, interior mechanisms aunt jemima cookie jar and in-mold decorated products for original equipment manufacturers and tier-one suppliers. OLHO had announced that it would enter pre-insolvency in May 2009. Key Plastics worked with the insolvency administrator and OLHO customers to structure the deal. This marks the second acquisition for Key in Germany in a month. In March, it boosted its European in-mold decorative products with the purchase of certain assets from Paulman & Crone GmbH of Ludenscheid. The assets are being consolidated into Key Plastic facilities in Kierspe and Lennestadt. Key, which employs 4,100, manufactures door handles, pressurized fluid reservoirs, decorative bezels, center consoles, air vents and other products. From Plastics News
North American Lighting to take over vacant Farmington Hills office building Dearborn auto dealer among nominees for Time Dealer of the Year New UM President Mark Schlissel 'amazingly honored' to be chosen as Coleman's successor Royal Oak Township, Highland Park in financial emergencies, Treasury finds SEMCOG aunt jemima cookie jar names Kathleen Lomako as new executive director Motorsports Hall of Fame leaving Novi for Daytona International Speedway For quicker action on Asian carp, region must agree on approach, feds tell public hearing in Traverse aunt jemima cookie jar City Video: Dipping into Craft Work's specialty sandwich NADA endorses percentage ceiling on dealer aunt jemima cookie jar reserve Super Bowl ad blitz
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