Thyssenkrupp Budd Company Sells Plastics Operations

Troy, MI — ThyssenKrupp Budd Company, a leading supplier to the automotive industry, announced the sale of its plastics materials manufacturing and molding operations to Continental Structural Plastics of Bingham Farms, MI. Sale price was not disclosed.

Included in the divestiture are ThyssenKrupp Budd facilities in the Ohio cities of Carey, North Baltimore and Van Wert, as well as a plant in Tijuana, Mexico. Approximately 1,120 people are employed at the affected operations.

According to ThyssenKrupp Budd officials, the sale of the plastics operations is in line with the restructuring plans ThyssenKrupp Automotive AG has announced for its automotive segment in North America.

The Carey, North Baltimore and Tijuana facilities make sheet molding composite (SMC) autobody panels and pickup boxes for the automotive industry. The Van Wert facility produces raw SMC material for the ThyssenKrupp Budd molding facilities and other industrial customers.

SOURCE: ThyssenKrupp Budd