NEWS
Pretium acquires
Olcott Pretium Packaging, a manufacturer of plastic containers and closures which makes some 2 billion PET and HDPE containers/year from 17 sites across North America, has acquired its compatriot, Olcott Plastics. Based in St Charles, Illinois, and dating back to 1969, Olcott is mainly active in injection moulding and decorating of single and double wall PP jars, seamless PET jars and PP closures. Pretium said that this would bolster its offer- ings in personal care, while giving Olcott a national platform for its blow moulded contain- ers. Previous owners Joseph and John Brodner, the existing management team and the employees will all transition. Financial details were not dis- closed. This is the sixth acquisition made by Pretium since private equity firm Genstar Capital acquired it. �
www.pretiumpkg.com
Visteon sees falling sales
Visteon, the automotive injection moulder and Tier One supplier, saw sales fall by 9.5% to $737m in Q1 2019 from Q1 2018, due to a mixture of falling vehicle production volumes, and customer pricing net of design changes and currency movements, partially offset by new business. The company’s main
markets in Q1 were Europe (33%), the Americas (24%), China, including for export (23%), and other Asia-Pacific countries (20%). President and CEO
Sachin Lawande said: “Sales were in line with our expectations, despite the challenging vehicle produc- tion environment. The operational challenges that affected our margins are expected to diminish and be largely resolved in the
Visteon has introduced a digital cluster displaying holographic objects on the new Peugeot 208, part of the carmaker’s 3D i-Cockpit technology
second and third quarters.” Visteon’s gross margin
fell from $129m to $66m over the period, primarily due to lower sales, launch challenges with a curved centre information display, inefficiencies associated with a plant transfer in Mexico and timing of engineering expense, the company said. Net income
fell from $65m to $14m. However, the company, which is based in Michigan, US, also secured an addi- tional $1.4bn in lifetime sales, driven by next-generation digital products, primarily all-digital clusters, advanced displays and its own SmartCore cockpit domain controller technology. �
www.visteon.com
Magna breaks ground in Morocco
Canadian automotive parts supplier Magna has broken ground for the construction of a new facility in Kenitra, Morocco, to make exterior and interior mirror systems. The facility covers 5,700 m2
and will cost $11.3m
to build. Production is projected to begin in spring 2020. About 275 jobs will be created at the new plant.. This is Magna’s second investment in
Morocco and follows on from the formation of a Casablanca-based engineering joint venture with Altran Technologies in October 2018. The Moroccan government has a target for the country to build 1 million vehicles/year by 2025 and has been actively attracting automakers and investment in new plants to achieve that goal. �
www.magna.com
Ineos Styrolution plans site for StyLight composites
Ineos Styrolution is planning to set up a new production site for its SAN and PP-based composite range, StyLight. The production unit will be opera- tional by 2022 and will probably be located in Germany, although that decision is yet to be finalised. StyLight was originally launched at K2016.
4 INJECTION WORLD | May 2019
The products and processing were optimised in partnership with the Neue Materialien Fürth and Neue Materialien Bayreuth research institutes in Germany. Since then, partnerships with Roctool and ARRK Shapers have led to its full validation to the automotive interior specification of automotive OEMs.
Applications have been identified in
electronics, sports and other applica- tions where the material’s combination of structural stiffness, aesthetics, processability, dimensional stability and near-Class A surface quality are in demand, the company said. �
www.ineos-styrolution.com
www.injectionworld.com
PHOTO: PSA
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