Supplier to the automobile industry Nifco (Tokyo / Japan; www.nifco.com) is busy at work broadening its reach across Europe. Through its German subsidiary, the Japanese company wants to acquire German interior components producer Kunststofftechnik Schmidt (KTS, Solingen; www.kts-schmidt.de).

KTS specialises in injection-moulded ashtray systems, beverage holders, air distributors and storage compartments. The transaction is expected to be finalised in the second quarter of 2013 according to Siggi Baier, head of Nifco Deutschland (Eschborn) speaking to Plasteurope.com about the deal. KTS has around 300 employees and recorded revenues of EUR 26m for 2011 with an EBITDA of EUR 3.8m.

Nifco is also strengthening its presence in the UK. Barely a year has gone by since the company commissioned its new plant in Stockton-on-Tees up in North East England in 2012, and now it is planning to invest GBP 12.8m (EUR 15.1m) in its expansion. The latest project is scheduled for completion in 2014 and the number of employees will be increased from the current 280 to 450. Nifco UK supplies automobile producers such as Honda, Nissan,Toyota and Ford.

The new facility at the Stockton site is expected to grow company revenues from GBP 40.9m to GBP 68m by 2015. According to local British media, it also signals the new de facto location of Nifco's European headquarters.

European revenues for the Japanese company were robust for the recently ended fiscal year (31 March). As the company’s entire global revenues were up by 14% over the previous year at JPY140 bn (EUR 1.06 bn) and its operating profits increased by 3% to JPY 10.5 bn, its European revenues soared 26% to JPY 8.8 bn and its operating profits went up 29% to JPY189m.