News
Notice of Acquisition of Polymer Tech Mexico S.A. De D.V.
by Nissha USA, Inc. and Eimo Technologies, Inc.
February 6, 2015
Nissha Printing Co., Ltd.
Nissha Printing Co., Ltd. (hereinafter referred to as “Nissha”), through Nissha USA, Inc., (hereinafter referred to as “Nissha USA”), a wholly-owned subsidiary of Nissha and Eimo Technologies, Inc. (hereinafter referred to as “Eimo Technologies”), a wholly-owned subsidiary of Nissha USA, has acquired 100% outstanding shares of stock of Polymer Tech Mexico S.A. De C.V. (hereinafter referred to as “Polymer Tech Mexico) which operates automotive plastic molding business in Mexico from Plainfield Tool and Engineering, Inc on January 31, 2015.
Purpose of acquisition
Nissha’s Industrial Material Business Unit has been redirecting its emphasis on the automotive market which is expected to develop global growth potential, and has been shifting toward a business model based on local production and consumption rather than exports in order to meet the needs of supply chain in the market. Nissha has developed a model of local production of In-mold decoration (hereinafter referred to as “IMD”) for automotive market, by exhibiting Nissha USA and Eimo Technologies’ capabilities in North America. During recent years, Mexico has been emerging as a major production center to support the demands for North American automotive market, and it is expected to see demand expansion for IMD products incorporated into the automotive interior components used for top or middle grade models. Polymer Tech Mexico has been supplying plastic injection molding parts for automotive engine components and interior and exterior components to major North American, European and Japanese automotive makers. As a result of this acquisition, Nissha would add Polymer Tech Mexico’s plastic molding products in its product lineups and also build IMD capability in Polymer Tech Mexico and showcase Polymer Tech Mexico as IMD production base in the automotive industry in Mexico.
Overview of New Company
| Address |
Circuito Exportacion No.182 Parque Industrial Tres Naciones Zona Industrial San Luis Potosi, S.L.P., 78395, Mexico |
| Date of Establishment |
Jan, 2005 |
| Name of Representative |
Fernando Ibarra (CEO, Director of the Board) |
| Description of Business |
Manufacture and sales of injection molding parts used for automotive engine components and interior & exterior components |
| Number of employees |
152 |
| Capital |
USD 1,628,574 (Nissha USA 67%, Eimo Technologies 33%)
|
| Sales |
USD 11,910,287 (Sep, 2014) |
Overview of Plainfield Tool and Engineering, Inc.
| Address |
420 Exchange, Suite 260 Irvine, CA 92602, USA |
| Date of Establishment |
Jan,1959 |
| Name of Representative |
Jonathan Soucy (CEO) |
Future Prospects
We expect the impact of this acquisition on our consolidated performance to be minimal. We will immediately disclose any information that is necessary to revise the earning forecast or any other information that should be disclosed in the future.
- The content of the web is information at press time, may change thereafter without notice. Planning goals, risks and uncertainties due to the fact, predictions and may differ from actual results. Please be forewarned.
- "NISSHA" and "Nissha group" is a generic name of Nissha Printing Co., Ltd. and its group companies.
Print
News
