NEWS
NPE draws 56,000 visitors
More than 56,000 visitors from 19,000 different companies attended NPE 2018, North America’s biggest plastics trade show that took place in Orlando, Florida, last month. The figure was 1.7% higher than the previous NPE in 2015 and a record for the third NPE show event at the Florida location, accord- ing to organiser, The Plastics Industry Associa- tion (it had previously set a target of 65,000 but said external analysis showed 2015 attendance had inadvertently been overstated). The show also set
exhibitor records, with 2,174 exhibitor compa- nies taking some 111,000m2
“We sold out our
exhibit floor nearly 14 months in advance of the show and worked diligently to accommo- date the companies who were unable to secure space during our Space Draw,” said Plastics Industry Association President and CEO William R Carteaux. �
www.npe.org
Ningbo Jifeng Auto Parts is seeking approval for its offer from Grammer shareholders
Grammer agrees to Chinese takeover bid
of floor space.
Grammer, the Germany- based supplier of compo- nents for automotive interiors and commercial vehicles seating systems, has concluded a compre- hensive agreement, under which a German affiliate of Ningbo Jifeng Auto Parts will launch a €60/share offer for its entire stock. Sepa- rately, Grammer has signed a contract to acquire Toledo Moulding & Die (TMD) in the US. The buyout will require
the approval of at least 50% plus one of the Grammer shareholding and has been recommended by the executive board. Grammer said that the aim is to strengthen the two compa- nies’ strategic partnership, stabilise the shareholder
structure, optimise the global footprint and secure its global growth strategy. As and when the takeo- ver is complete, Grammer will remain listed on the German stock exchange, retain its headquarters and all its locations and make “extensive commitments” to all employees, giving them security for up to 7.5 years, it said.
Ningbo Jifeng, which is owned by the Wang family, already has a stake in Grammer. It has agreed not to begin any structural measures like a spin-off or delisting, unless the executive and supervisory boards approve. Grammer said the
combination will give it better access to the Chinese
market, while Ningbo Jifeng benefits from Grammer’s international positioning. Grammer said its acquisition of TMD, based in Toledo, Ohio, is in line with its strategy of acquiring technology companies to enhance its own product range and process exper- tise. TMD is a specialist in the development and production of mainly interior parts for the North American automotive market. In 2017, it had sales of $300m and about 1,600 employees at 11 facilities in the US and Mexico, includ- ing 100 engineers at two developments sites. The deal is expected to close in Q3, subject to antitrust and other approvals. �
www.grammer.com
Webasto buys AeroVironment unit in US
German automotive supplier Webasto has agreed to buy the Efficient Energy Systems (EES) business segment of AeroVironment of Monrovia, California, which is now focusing on unmanned aircraft systems and tactical missile
4 INJECTION WORLD | June 2018
systems. The transaction price is $35m. Adding EES business, it is claimed,
will strengthen Webasto in its core businesses of sunroofs, convertibles and thermo systems, while enabling it to move into new business areas like
battery systems and plug-in electric vehicle charging systems. The company, which is one of the top 100 automotive suppliers, had sales of €3.2bn and employed over 12,000 people in 2016. �
www.webasto-group.com
www.injectionworld.com
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