Plasman expands in Southern U.S. with Minghua USA acquisition
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Minghua's exterior trim paint plant in Greer, S.C. has capability for full fascia/bumper.
In its fourth acquisition in six years, Windsor, Ont.-based auto parts maker Plasman has bought Minghua USA, a Tier One automotive manufacturing and sequencing company located in Greer, S.C.
The financial terms of the deal have not been disclosed.
In a news release, Plasman officials said that Minghua was introduced to the company by their current customer BMW. The production facility, built in 2016, is an exterior trim paint plant that has capability for full fascia/bumper.
The Minghua deal expands Plasman’s global operations to 17 manufacturing sites worldwide. “Adding the Greer manufacturing site to our portfolio grows Plasman’s planned footprint and allows us to expand our current European customer relationships with BMW and Volvo here in North America,” said Plasman president and CEO David Wiskel. “Additionally, through the acquisition, [we] add Volkswagen as a new customer with upcoming product launches in 2022 and 2023.”
Minghua’s site, located at the Velocity Industrial Park in Greer, is a mold, paint, bonding and assembly plant location with JIT assembly and sequencing capabilities. It is equipped with 16 injection mold machines with tonnage up to 4000t and a state-of-the-art Sturm-Eisenmann fascia paint system that can provide capacity to manufacture 1,000,000 bumpers per year, Plasman officials said. “Strategically the site rounds out our southern U.S.footprint and supports some of the most advanced automotive products on the market, including full exterior for the upcoming launch of the new BMW G09 and a complex exterior package for the Volvo XC90 Electric Vehicle,” said Tim Berezowski, Plasman’s president, North America.
Plasman supplies exterior trim, bumpers/fascia, and sub-components for major OEM automotive brands; precision molding for the consumer goods market; and has recently diversified into the medical device and biotech industry.