PLASTIVALOIRE
Acquisition of US competitor TransNav targeted / Automotive division to expand further
French plastics processor Plastiques du Val de Loire (Plastivaloire, Langeais; www.groupe-plastivaloire.com) is aiming to strengthen its presence in North America through the complete takeover of its competitor TransNav (New Baltimore, Michigan / USA; www.transnav.com). The company hopes to complete the transaction by the end of 2018, pending approval by regulatory authorities.

TransNav operates three production facilities comprising nearly 100 injection moulding machines. In addition to its main plant in New Baltimore, Michigan, it has a facility in Danville, Kentucky, and another in the Mexican automotive centre of Puebla. With a total workforce of around 500, the company expects to post sales in 2018 of USD 105m (EUR 92m), according to Plastivaloire. The TransNav portfolio includes components for car production such as wheel arch liners, fuel tank parts, car interior parts and windscreen wipers, which are predominantly supplied to US car manufacturers and tier 1 customers.

Regarding clarification about what will happen to joint venture TransRompa, which TransNav founded in 2015 together with Rompa (Tilburg / The Netherlands; www.rompagroup.com) – see Plasteurope.com of 24.02.2015Plasteurope.com’s enquiry remained unanswered at press time.

Plastivaloire is managed by the family of CEO Patrick Findeling and has been operating plants in Europe, Turkey and Tunisia. In 2016/2017, the French processor also had a production line built in San Luis Potosí / Mexico – see Plasteurope.com of 15.06.2016 – which is still at the start-up stage.

With this latest acquisition, the company’s share of sales in the automotive sector is set to increase further. This already accounts for a good 80% of Plastivaloire’s total sales (latest figures are at EUR 627m), while the non-automotive sector, such as plugs and parts for household appliances, makes up the rest. With the acquisition, Findeling says the company should be able to reach it sales target of EUR 750m in 2018, originally scheduled for 2020. By 2025, turnover is expected to reach EUR 1 bn.
01.11.2018 Plasteurope.com [241000-0]
Published on 01.11.2018
Plastivaloire: Autozulieferer kauft US-Wettbewerber TransNavGerman version of this article...

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