24 September 2006
24 September 2006
Vermont Composites of Bennington, Vermont has sold its Automotive Composite Parts Business to Plasan USA.
The automotive composite business is currently a major manufacturer of carbon fibre component parts for the automotive market, worldwide. The 67 employees previously employed by Vermont Composites will stay with Plasan’s business in Bennington.
The automotive composite business fits well with Plasan’s armour business and will allow the company to expand its armour business in the States. Vermont Composites can now focus on the growth of its core Aerospace and Medical Systems business that has doubled in size since 2000 with its 165 employees. Each business has its own location in Bennington. Both companies are forecasting strong growth in sales and employment going forward.
Dani Ziv, CEO of Plasan, said, “The Vermont facility we acquired will provide Plasan with armour production capabilities in the USA. All the while, we are also enthusiastic about the prospects of the automotive parts business and feel it will grow significantly in the future.”
Pat Wheeler, CEO of Vermont Composites said, “Plasan will be an asset to the Bennington community. They are a very successful company and will provide growth and employment opportunities for the county. Meanwhile, Vermont Composites’ aerospace and medical businesses continue to show excellent growth.”
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