Key Plastics: Sale of Non-Core European Operations
Key Plastics, L.L.C. (Key), Northville, MI, USA, a tier one global supplier of automotive components, announced the completion of a transaction whereby Key sold a portion of its European operations in a management buy-out. Effective February 16, the newly-formed Innovative Components Technologies GmbH (ICT) of Germany became the owner and operator of the following Key facilities: Wächtersbach, Germany; Lennestadt, Germany; Kierspe, Germany; Tachov, Czech Republic; and Borja, Spain.
Key retains operations, tied to its core businesses, at 12 locations in seven countries. Its operations in Europe now consist of manufacturing and engineering facilities in Leiria and Vendas Novas, Portugal; Löhne, Germany; and Janovice, Czech Republic. The company also operates from locations in the United States, China, Japan and Mexico. Key’s core businesses include the engineering and production of automotive handles, bezels and clusters, mechanisms and air registers, highly decorated trim components, and select precision-molded engine compartment products.
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