Plasman Group buys Swedish auto parts maker Plastal Industri
Purchase gives Windsor, Ont.-based Plasman a footprint in the European market.
In a bid to enter the European market, Windsor, Ont.-based automotive parts molder Plasman Group has acquired Swedish auto parts maker Plastal Industri.
Headquartered in Gothenburg, Sweden, Plastal Industri is being described as a leading Tier 1 supplier of engineered thermoplastic bumper modules, painted and unpainted exterior trim, and plastic parts serving both the passenger car and heavy commercial vehicle markets. The company manufactures a wide range of innovative injection molded and surface treated exterior plastics including complex bumper systems, spoilers, and sill covers. Plastal was founded in 1961 in Sweden and operates out of four state-of-the-art production facilities in Sweden, Norway, and Belgium.
“Adding Plastal to our portfolio gives the Plasman Group a strategic footprint in the growing European auto market,” said David Wiskel, Plasman Group’s CEO. “It also provides our company with new products and customers. The combined entity will offer our world class products and capabilities in two of the largest automotive markets in the world.”
The financial terms of the deal have not been disclosed.
Plasman manufactures exterior automotive parts. Founded in 1978, the company has approximately 3,600 employees across its network of 16 facilities across North America and Europe.