Canadian Plastics

Magna bids US$24.7 million for Plastech

Magna International Inc. has bid US$24.7-million to take over the exteriors business of bankrupt Tier 1 auto suppli...

June 16, 2008   Canadian Plastics

Magna International Inc. has bid US$24.7-million to take over the exteriors business of bankrupt Tier 1 auto supplier Plastech Engineered Products Inc.

Plastech, headquartered in Dearborn, Mich., filed for Chapter 11 protection in February after Chrysler LLC cancelled its contracts with the supplier, sparking a legal battle with Chrysler, which sought to remove the tools and machinery that were manufacturing components for several of its vehicles.

According to bankruptcy court documents, the work on which the Aurora, Ont.-based Magna is bidding consists mainly of plastic exterior trim products and fascias. Magna’s Decoma International Inc. unit, which is making the Plastech bid, is the largest manufacturer of fascias in North America.

Receive the latest news about the Canadian plastics industry in your inbox every Tuesday! Sign up for Canadian Plastics‘ free weekly newsletter.


Print this page

Related Stories

Leave a Reply

Your email address will not be published. Required fields are marked *

*