ABC Technologies buys Plastikon’s auto parts molding business

In a move that boosts its presence in the electric vehicle (EV) market, Toronto-based automotive parts molder ABC Technologies Holdings Inc. has agreed to acquire the automotive business of Plastikon Industries, headquartered in California, for US$130 million.

The business, which supplies Tier One and Tier Two auto interiors, assemblies, and EV battery housings, will be renamed Plastikon Automotive.

Plastikon employs approximately 900 workers, and operates three facilities in the U.S. – in Hayward, Calif.; Austin, Texas; and Leitchfield, Ky. – that make battery module housings, injection molded headliners, door assemblies, centre console assemblies, and instrument cluster. The company’s capabilities include injection molding, compression molding, plastics welding, wrapping and fusing, adhesive bonding, painting, and robotic assembly.

Plastikon’s fiscal 2022 revenue was approximately US$280 million.

In an Aug. 23 news release, ABC Technologies president and CEO Terry Campbell said the deal “amplifies our position as an industry leader in lightweighting and plastic injection molding, gives ABC a stronger foothold in the EV space, and most importantly, provides a new set of employees with opportunities to play larger roles in molding the future of mobility.”

The deal is scheduled to close in the third quarter of 2023.

With approximately 10,000 employees worldwide, ABC operates three product groups: Interior Systems, Exterior Systems, and HVAC, Fluids & Other.