Automotive components and systems provider Mecaplast (Monaco) has rebranded as Novares (Clamart / France; www.novaresteam.com), with effect from 19 September 2017. The move follows both its merger with US-based Key Plastics (Northville, Michigan) – see Plasteurope.com of 14.10.2016 – and private equity group Equistone Partners (London / UK; www.equistonepe.com) becoming the major (75%) shareholder – see Plasteurope.com of 04.02.2016.

The merger has resulted in a group with 42 production sites and 29 service and technology centres in 21 countries, all of which supply the major automotive manufacturers. Sales in 2016, including Key Plastics activities, amounted to EUR 1.2 bn, with EBITDA valued at EUR 58.9m and net gain at EUR 8.9m.

Novares says it has “refreshed its vision and strategy” and is focusing on value creation, technical products and innovation as well as increasing its global expansion efforts. As a result, it has restructured its portfolio to centre on seven distinct product lines: engine and e-powertrain components, bezels & clusters, air vents & decoration trims, interior & car body trim, handles and exterior paint & surfaces. Along with the rebrand, headquarters has also moved from Monaco to Clamart, nearby Paris.

The company name is a combination of ‘Nova’, which means new in Latin, and ‘Res’, which means fact. The logo, a globe made up of triangles, is said to represent complex components and the “puzzle” that is the automotive industry, as well as Novares’ expansion strategy.

In the trend towards automotive lightweight construction, Novares says it is 100% focused on thermoplastics. One target is the Chinese market, where smaller (EUR 30-100m) as well as larger acquisitions of up to EUR 300m are envisioned, says the company, without giving more precise information.