VENTURE / PEGUFORM
US car components manufacturer buys UK processor / GM the major customer
Global car components manufacturer, Venture Industries has bought the Automotive Division of T&D Industries (Helix House, 50 Kimpton Road, GB-Luton LU2 0NB), a leading UK moulder of automotive bumpers. The acquisition, for an undisclosed sum, has been made through Venture´s Peguform (HQ: D-79264 Bötzingen) subsidiary, which it bought last year as part of the moulding operations of the Klöckner-Werke Group (see Plasteurope.com 06, 1999).
T&D Automotive has two plants in Luton immediately adjacent to the Vauxhall factory of General Motors, where the Vectra and Frontera models are built. It has been a tier one and tier two supplier of painted exterior and interior moulded components to Vauxhall and will continue to be a leading supplier to its UK operations. This includes the Ellesmere Port plant where the Astra is assembled.
Along with the other companies within T&D Industries, the Automotive Division, now renamed Peguform UK, went into receivership in October last year. Its acquisition by Peguform was facilitated by help from Vauxhall, which has been keen to maintain commercial relationships with a company estimated to have a 10% stake in the UK bumper market and which was supplying up to 70% of its output to the General Motors´ subsidiary. Peguform inherits two plants in Luton with eight moulding machines and five paint lines, a logistics centre in Dunstable and a workforce of 400. When fully operational, the plant was turning over GBP 43m.
Venture sees Peguform as its doorway into the UK and is looking to win more business for the Luton factories, which will maintain close contacts with the Peguform production plants in Germany, France and Spain. UK president Bill Hart, previously chief executive at Venture´s Grand Rapids plant in Michigan, has set integration within the Peguform group as a priority. Steve Dennis remains as managing director at Luton.
Apart from General Motors, Venture/Peguform customers include Ford, Volvo, Opel, DaimlerChrysler and VW. The group, which turns over USD 2,000m, produces hatchback doors, dashboards, door panels and interior trim components in addition to front and rear bumper assemblies. There are operations in Latin America, South Africa and Australia as well as Europe and the US, with the international headquarters in Fraser, Michigan, and the European HQ at Bötzingen in Germany.
T&D Automotive has two plants in Luton immediately adjacent to the Vauxhall factory of General Motors, where the Vectra and Frontera models are built. It has been a tier one and tier two supplier of painted exterior and interior moulded components to Vauxhall and will continue to be a leading supplier to its UK operations. This includes the Ellesmere Port plant where the Astra is assembled.
Along with the other companies within T&D Industries, the Automotive Division, now renamed Peguform UK, went into receivership in October last year. Its acquisition by Peguform was facilitated by help from Vauxhall, which has been keen to maintain commercial relationships with a company estimated to have a 10% stake in the UK bumper market and which was supplying up to 70% of its output to the General Motors´ subsidiary. Peguform inherits two plants in Luton with eight moulding machines and five paint lines, a logistics centre in Dunstable and a workforce of 400. When fully operational, the plant was turning over GBP 43m.
Venture sees Peguform as its doorway into the UK and is looking to win more business for the Luton factories, which will maintain close contacts with the Peguform production plants in Germany, France and Spain. UK president Bill Hart, previously chief executive at Venture´s Grand Rapids plant in Michigan, has set integration within the Peguform group as a priority. Steve Dennis remains as managing director at Luton.
Apart from General Motors, Venture/Peguform customers include Ford, Volvo, Opel, DaimlerChrysler and VW. The group, which turns over USD 2,000m, produces hatchback doors, dashboards, door panels and interior trim components in addition to front and rear bumper assemblies. There are operations in Latin America, South Africa and Australia as well as Europe and the US, with the international headquarters in Fraser, Michigan, and the European HQ at Bötzingen in Germany.
15.05.2000 Plasteurope.com [17399]
Published on 15.05.2000