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France’s Mecaplast Group to Buy Key Plastics
French plastic parts supplier Mecaplast Group has agreed to buy Livonia, Mich.-based Key Plastics Corp.
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French plastic parts supplier Mecaplast Group has agreed to buy Livonia, Mich.-based Key Plastics Corp. Terms were not disclosed. Completion of the deal awaits regulatory clearances.
Mecaplast is a €735 million ($820 million) that supplies injection molded under-hood and vehicle interior components to more than a dozen major carmakers from 28 factories in 18 countries. The company’s U.S. office is in Novi, Mich.
Key Plastics is a $415 million supplier of similar components from 11 plants in seven countries. Mecaplast says the acquisition will expand its presence in China, Germany and the U.S.
Mecaplast and Key Plastics are majority owned by private equity firms Equistone partners Europe and Wayzata Investment Partners, respectively.
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