Continental Structural Plastics has announced it has signed a definitive agreement to purchase the composites operations of Magna Exteriors. The acquisition, will make CSP the world’s largest sheet moulding composites (SMC) compounder and manufacturer.
Under the terms of the purchase agreement, CSP will acquire Magna’s composite manufacturing facilities in Lenoir, Newton, and Salisbury, North Carolina; and Saltillo, Mexico, plus a compounding facility located in Grabill, Indiana. These facilities collectively employ more than 1,000 people and encompass 600,000 square-feet of manufacturing space.
Frank Macher, chairman and CEO of Continental Structural Plastics said;
This acquisition further demonstrates our commitment to become the global leader in light-weighting solutions. The incremental capacity and resources gained position us extremely well for on-going growth and the ability to pursue a number of new business opportunities.
Manufacturing equipment and technical capabilities included in the transaction include SMC compression moulding machines ranging from 175T to 4,000T; horizontal presses; a prime paint line; robotic water jet machines, bonding applications and routing; and CNC routing.