DURA AUTOMOTIVE
“Body and Glass” division posts loss / Production shifted / JV with PPG glass group?
In January 2002, the US supplier Dura Automotive (Rochester Hills, Michigan; www.duraauto.com) divested its peripheral “Plastic Products” operation in the United States. Now, the European HQ, Dura Holding Germany GmbH (D-58840 Plettenberg; www.duraauto.de), intends to split off the “Body and Glass” division into a JV.
In 2001, Dura Germany posted sales of EUR 375m, with pretax earnings of EUR 5.4m. The headquarters in Plettenberg, which has responsibility for the “Body and Glass” division of Dura´s worldwide business under the management of Jürgen von Heyden, controls all the Group´s activities in Europe. In addition to this “Body and Glass” division, these activities include the “Strips and Trim” and “Body Components” divisions. At the heart of the company is the former Schade Group in Plettenberg, which was acquired in 1997. The non-automotive sector of this Group, which still operates under the name Schade Deco Systems, is generating a loss and is up for sale.
The 2001 balance sheet shows a mixed result for the “Strips and Trim” (metal and plastic) division. Whereas the Plettenberg site posted a loss of EUR 730,000, Dura Automotive Selbecke Leisten und Blenden GmbH in the nearby town of Kirchhunden registered a profit of nearly EUR 5m. The situation report states that the “Body and Glass” division, on the other hand, showed a negative trend in terms of sales and earnings. According to the balance sheet, the losses in Plettenberg amounted to around EUR 4.2m. The company has already responded to this by, among other things, shifting its glass moulding operations to Strakonice in the Czech Republic. A further improvement is expected when the entire division is placed into a JV with the US glass giant, PPG Industries (Pittsburgh, Pennsylvania; www.ppg.com).
In 2001, Dura Germany posted sales of EUR 375m, with pretax earnings of EUR 5.4m. The headquarters in Plettenberg, which has responsibility for the “Body and Glass” division of Dura´s worldwide business under the management of Jürgen von Heyden, controls all the Group´s activities in Europe. In addition to this “Body and Glass” division, these activities include the “Strips and Trim” and “Body Components” divisions. At the heart of the company is the former Schade Group in Plettenberg, which was acquired in 1997. The non-automotive sector of this Group, which still operates under the name Schade Deco Systems, is generating a loss and is up for sale.
The 2001 balance sheet shows a mixed result for the “Strips and Trim” (metal and plastic) division. Whereas the Plettenberg site posted a loss of EUR 730,000, Dura Automotive Selbecke Leisten und Blenden GmbH in the nearby town of Kirchhunden registered a profit of nearly EUR 5m. The situation report states that the “Body and Glass” division, on the other hand, showed a negative trend in terms of sales and earnings. According to the balance sheet, the losses in Plettenberg amounted to around EUR 4.2m. The company has already responded to this by, among other things, shifting its glass moulding operations to Strakonice in the Czech Republic. A further improvement is expected when the entire division is placed into a JV with the US glass giant, PPG Industries (Pittsburgh, Pennsylvania; www.ppg.com).
17.10.2002 Plasteurope.com [15509]
Published on 17.10.2002