YMOS
Plastics Division to Magna / Focus: Comprehensive supplier for interior and exterior automobile parts / 1,500 employees
No sign of a letup in the rapid pace with which European auto component suppliers are consolidating: Catching the industry off guard, an announcement was made last week that Magna Holding AG (A-2522 Oberwaltersdorf/Vienna), European HQ for its Canadian parent company, is acquiring the Plastics Division of Ymos AG (HQ: D-63171 Obertshausen). The Ymos group will transfer to Magna all of its plastics activities, including product lines such as plastic exterior parts and trims as well as plastic interior parts. The purchase price is DEM 184,3m. Turnover for Ymos in this sector was DEM 331m for the last fiscal year. Its plastics division has branches in Obertshausen, Straubing and Idar-Oberstein, Germany, as well as Braine l'Alleud, Belgium, and employs 1,500.
Ymos' official explanation for the move: "Our main motivation in making the decision was long-term security for the division and its employees. Considering current trends in the motor vehicle components sector, such security is only possible within the framework of a financially strong global group such as Magna."
Magna sees the acquisition as a means of achieving its goal of becoming a comprehensive supplier in its two core businesses: interior systems and exterior covering systems. One of the most diversified suppliers of motor vehicle parts and accessories, Magna has 124 manufacturing sites and reaches a turnover of USD 5.5bn with 36,000 employees worldwide. Magna Europe employs approx. 10,000 of these at 43 manufacturing sites. Its most recent spectacular acquisition in Europe was this year, when it took over the motor vehicle parts and accessories supplier DLW AG (D-74319 Bietigheim-Bissingen), whose subsidiaries include Georg Näher GmbH (D-71795 Markgröningen) and Emfisint Automotive S.A. (Terrassa, Spain). This and earlier acquisitions such as Eybl, Marley Automotive, Pebra and Caradon Roninx have also greatly expanded Magna's product line in interior and exterior parts and accessories. For vehicle seats, Magna recently acquired the British company Tricom Group Holdings Ltd. (see Plasteurope.com No 10, 1997).
Ymos' official explanation for the move: "Our main motivation in making the decision was long-term security for the division and its employees. Considering current trends in the motor vehicle components sector, such security is only possible within the framework of a financially strong global group such as Magna."
Magna sees the acquisition as a means of achieving its goal of becoming a comprehensive supplier in its two core businesses: interior systems and exterior covering systems. One of the most diversified suppliers of motor vehicle parts and accessories, Magna has 124 manufacturing sites and reaches a turnover of USD 5.5bn with 36,000 employees worldwide. Magna Europe employs approx. 10,000 of these at 43 manufacturing sites. Its most recent spectacular acquisition in Europe was this year, when it took over the motor vehicle parts and accessories supplier DLW AG (D-74319 Bietigheim-Bissingen), whose subsidiaries include Georg Näher GmbH (D-71795 Markgröningen) and Emfisint Automotive S.A. (Terrassa, Spain). This and earlier acquisitions such as Eybl, Marley Automotive, Pebra and Caradon Roninx have also greatly expanded Magna's product line in interior and exterior parts and accessories. For vehicle seats, Magna recently acquired the British company Tricom Group Holdings Ltd. (see Plasteurope.com No 10, 1997).
15.10.1997 Plasteurope.com [19084]
Published on 15.10.1997