ABC Technologies buys Plastikon auto business
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ABC Technologies buys Plastikon auto business

Jul 25, 2023

Toronto-based ABC Technologies Holdings Inc. has agreed to acquire the automotive business of Plastikon Industries for US$130 million.

The business, which supplies automotive interiors, assemblies and electric vehicle battery housings, will be renamed Plastikon Automotive.

The deal includes facilities in Hayward Calif.; Austin, Texas; and Leitchfield, Ky., that make battery module housings, injection molded headliners, door assemblies, center console assemblies and instrument cluster.

"The pending acquisition will not impact the daily roles and responsibilities of Plastikon Automotive's 900 employees," Tom Hajkus, global communications manager of ABC Technologies, told Plastics News in an emailed statement.

"Both ABC and Plastikon will continue to operate their respective businesses as usual," Hajkus said. "Certain Plastikon employees in management positions should expect to begin interacting and integrating with ABC's operations soon to make the transition as smooth as possible."

In a news release, Terry Campbell, president and CEO of ABC Technologies, said the deal "amplifies our position as an industry leader in lightweighting and plastic injection molding, gives ABC a stronger foothold in the EV space, and most importantly, provides a new set of employees with opportunities to play larger roles in molding the future of mobility."

Plastikon Automotive's capabilities include injection molding, compression molding, plastics welding, wrapping and fusing, adhesive bonding, painting and robotic assembly. The unit posted 2022 fiscal year sales of about US$280 million.

The deal scheduled to close in the third quarter of 2023. The acquisition is being financed through a drawdown under the ABC's credit facility.

Hayward-based Plastikon Industries also serves the health care, medical device, pharmaceutical, consumer and industrial end markets. Plastics News estimates the company's total sales at $400 million.

ABC Technologies ranks No. 18 in PN's latest survey of North American injection molders and No. 15 in PN's blow molders' ranking.

ABC was active in acquisitions in 2022, buying Windsor Mold Group Technologies, Karl Etzel GmbH and dlhBowles Inc.

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