Continental Structural Plastics Completes Acquisition of Magna’s Composites Operations
Auburn Hills, Michigan – August 4, 2014 —Continental Structural Plastics (CSP), a global leader in lightweight composite solutions, announced today it has completed the acquisition of five composites operations from Magna Exteriors, making CSP the world’s largest sheet molding composites (SMC) compounder and manufacturer.
Under the terms of the agreement, CSP has acquired Magna Composites manufacturing facilities located in Lenoir, Newton, and Salisbury, North Carolina; and Saltillo, Mexico, and a compounding facility located in Grabill, Indiana. Collectively, these facilities employ more than 1,000 people and encompass 600,000 square-feet of manufacturing space.
“This is an important step in our efforts to build a stronger, more competitive company,” said Frank Macher, chairman and CEO of CSP. “Through this acquisition, we are not only able to diversify our base business, but also expand our manufacturing footprint in a way that will be beneficial to both existing and new customers.”
Manufacturing equipment and technical capabilities included in the transaction include SMC compression molding machines ranging from 175T to 4,000T; horizontal presses; a prime paint line; robotic water jet machines, bonding applications and routing; and CNC routing.
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About Continental Structural Plastics
For more than 40 years, Continental Structural Plastics (CSP) has provided leading-edge technologies in lightweight materials and composite solutions for the automotive, heavy truck, HVAC and construction industries. Headquartered in Auburn Hills, Michigan, CSP provides full-service engineering support, and holds more than 50 patents covering materials development and manufacturing processes in composite materials formulation, design and manufacturing technologies. For more information, visit www.cspplastics.com.