Key Plastics forms joint venture in China (May 25, 2005)
Automotive plastic components and assemblies maker, Key Plastics LLC, this week announced the formation of a new jo...
Automotive plastic components and assemblies maker, Key Plastics LLC, this week announced the formation of a new joint venture with Jiehua Automotive Trim Development Center in Shanghai, China.
The partnership, dubbed Shanghai Key Automotive Plastic Component Company Ltd., is part of Key Plastics’ aggressive strategy to implement a global footprint in manufacturing and engineering, said B. Edward Ewing, chairman and CEO at Key Plastics. As it stands, the joint venture’s annual revenue is about US$18 million, but is expected to grow to about $50 million in 2009, he added.
As part of the deal, Key Plastics will take over two production facilities in the Anting and Chunshen regions of Shanghai. Each has about 160,000 sq ft of floor space, plus injection molding capabilities, interior and exterior painting capabilities and a full range of assembly processes, Key Plastics said.
In the future, the joint venture will produce door handles, radio/HVAC bezels, air vents and under-the-hood components. Right now, it makes instrument panel components, interior trim, wheel covers, cluster finish panels, headlamp bezels, bumper and exterior trim components.Key Plastics has its Canadian headquarters in Markham, ON.