28 July 2006
28 July 2006
Continental Structural Plastics has acquired the Budd Plastics Division of ThyssenKrupp Budd, making CSP the largest industrial-composites moulder in North America.
Bruce Landino, CSP’s chief-executive officer, said, “Budd’s expertise as both a formulator and premier molder of SMC composites will increase CSP’s manufacturing capability and broaden its product portfolio in both thermoplastic and thermoset industrial composites. Budd’s strong technology will help CSP expand into more markets and applications.”
“We believe the synergy created from combining the resources and expertise of CSP and Budd Plastics will substantially benefit our customers,” adds Thomas Hilborn, CSP vice-president. “With the ability to offer compression / injection molded LFT / DLFT, GMT, BMC, and SMC composites, CSP is now positioned as a materials-neutral composites supplier – a unique customer-focused market strategy we call Dial-a-Composite – which allows us to offer the best composites solution for each application.”
“Thanks to the addition of Budd Plastic’s skilled employees and technologies to CSP’s own resources,” continues Landino, “our company is now better positioned to serve more customers in more markets with the best balance of price, performance, and service.” CSP acquired Budd Plastics’ plants in Carey, North Baltimore, and Van Wert, Ohio, U.S.A.; and Tijuana, Mexico.
Before the acquisition, CSP was North America’s largest moulder of glass-mat thermoplastic (GMT) composites, as well as a major moulder of long-glass-fibre-reinforced thermoplastic (LFT) and direct-LFT (DLFT) composites. Last year’s acquisition of Venture Industries’ Conneaut, Ohio plant added thermoset bulk-moulding compound (BMC) and sheet-moulding compound (SMC) composites to CSP’s product offerings. The company serves both automotive and non-automotive markets throughout North America from plants in Petoskey, Mich., Sarepta, La., and Conneaut, Ohio, with headquarters in metro-Detroit.
“Aside from the name change and broader service offerings,” continues Hilborn, “we expect that most changes resulting from this acquisition will be transparent to Budd and CSP customers. One thing that will change, however, is the breadth and depth of experience in industrial composites that the combined entity brings to the table.”
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