US Farathane acquires China’s Boston Plastics
Stefan Baumgarten
27-Jan-2016
HOUSTON (ICIS)–US automotive parts firm Farathane has
acquired China-based Boston Plastics in a move to expand into
Asia’s growing automotive sector, it said on
Wednesday.
Shanghai-based Boston Plastics produces plastic-injected
moulded components and assemblies for the automotive,
industrial, and consumer end-markets. It has plants in
Shanghai, Taicang, and Changchun.
The acquisition would provide Farathane with operations in
China – “the largest global automobile market in the world” –
and it would provide opportunities to serve existing
original equipment manufacturing (OEM) customers in the US
and China, the company said. Financial details were not
disclosed.
Earlier this month, Farathane already announced the acquisition of Tepso Plastics Mex, a
manufacturer of engineered plastic injection moulded
components and assemblies for the automotive sector with two
plants in Mexico.
Auburn Hills, Michigan-based Farathane
supplies functional black plastic and interior and exterior
plastic components to the automotive industry. With the
latest acquisition it now has 16 plants in the US, Mexico and
China.
The automotive industry is a major
global consumer of petrochemicals which contribute more than
a third of the raw material costs of an average vehicle. ICIS
tracks the movement of petrochemical raw material costs in
auto production both globally and regionally with the
weighted ICIS Basket of Automotive Petrochemicals
(IBAP).
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