Continental Structural Plastics to acquire Magna's composites business

Continental Structural Plastics (CSP) will acquire five Magna Exteriors plants in North Carolina, Indiana and Mexico and become the world's largest sheet molding compound (SMC) fabricator.

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Continental Structural Plastics (CSP, Auburn Hills, Mich., USA), a specialist in lightweight composite solutions, announced on July 17 that it has signed a definitive agreement to acquire the composites operations of Magna Exteriors. This acquisition, which will make CSP the world’s largest fabricator of sheet molding compound (SMC), includes the assets of five Magna facilities located in North America.

Under the terms of the agreement, CSP will acquire Magna composites manufacturing facilities located in Lenoir, Newton, and Salisbury, N.C., USA; Saltillo, Mexico; and a compounding facility located in Grabill, Ind., USA. Collectively, these facilities employ more than 1,000 people and encompass 600,000 ft2/55,742m2 of manufacturing space.

Manufacturing equipment and technical capabilities included in the transaction include SMC compression molding machines ranging from 175 tons to 4,000 tons; horizontal presses; a prime paint line; robotic water jet machines, bonding applications and routing; and CNC routing. 

“This acquisition further demonstrates our commitment to become the global leader in light- weighting solutions,” says Frank Macher, chairman and CEO of CSP. “The incremental capacity and resources gained position us extremely well for ongoing growth and the ability to pursue a number of new business opportunities.”

“We have a solid foundation upon which we are building a bigger, more competitive company,” Macher adds. “Through this acquisition, we gain significant heavy truck and consumer products expertise, as well as an expanded manufacturing footprint and broad range of manufacturing and technical capabilities.”