| Key Plastics Completes
Acquisition of Kendrion Automotive Plastics Businesses
NORTHVILLE, Mich., Sept. 10, 2004
— Key Plastics L.L.C. today announced the completion
of the acquisition of Kendrion’s RSL and Systems
group of companies. The deal closed on September 9,
2004.
The operations of Kendrion’s
groups will be integrated with the existing European
operations of Key Plastics. The European group will
be lead by the current President of Key Plastics-Europe,
Rui Filinto.
In describing the acquisition, Mr.
Filinto states “The Kendrion RSL and Systems Group
are an ideal addition to Key Plastics current operations.
Their product and customer portfolio complement our
operations and provide a greater range of products and
services to our customers globally.”
Key Plastics global operations will
now comprise 39 locations in 10 countries with over
6,000 employees producing $750 million in revenue annually.
About Kendrion’s Auotmotive
Plastics Group
Kendrion’s RSL and Systems groups employ more
than 1800 people in seven facilities in Europe. They
supply parts to leading global OEMs and Tier 1s. Major
customers include Volkswagen, Opel, Seat and DaimlerChrysler,
as well as many others. The groups operate 4 facilities
in Germany and also have operations in Portugal, Spain,
and the Czech Republic. Core products include consoles,
sunroof and tailgate covers, headrests, handles, ashtrays,
and many others. The operations generate more than $250
million in sales.
About Key Plastics
Key Plastics is a leading supplier of plastic products
to the automotive and light truck Tier 1 and OEM markets.
Key Plastics engineers and produces value-added components
and sub-assemblies for exterior applications, interior
trim and functional under-hood products. Key Plastics’
global operations comprise 21 manufacturing facilities,
3 technical centers and two mold-making facilities providing
concurrent program management and production services
throughout North America and Europe and Asia. With over
$500 million in global sales annually, Key Plastics
employs over 4,500 people. Mr. Ewing became Chairman
and CEO of Key Plastics in April, 2001, when the company
was acquired out by Carlyle Management Group. Key Plastics
is an affiliate of the Key Automotive Group and is controlled
by an investment group led by the Ewing Management Group.
The Key Automotive Group of companies
comprises suppliers of components and systems to the
global automotive industry. The Key Automotive Group
of companies collectively generates more than $1.7 billion
in sales and employ approximately 14,000 employees in
state-of-the-art technical and manufacturing facilities
in 15 countries in North America, Europe and Asia.
About Ewing Management Group
Based in Dallas, Texas, the Ewing Management Group is
focused on acquiring and managing underperforming companies
in manufacturing or asset-intensive industries. Ewing
Management Group was formerly the Carlyle Management
Group, an affiliate of The Carlyle Group.
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