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CSP, headquartered in Auburn Hills, Michigan, USA, develops composite materials and parts for the light vehicle, heavy truck, HVAC and construction markets. The company produces more than 25,000 tons of SMC annually.
Magna Exteriors, part of automotive supplier Magna International, Canada, manufactures a variety of products for the automotive, commercial transportation, consumer and industrial markets, as well as the EpicBlendSMC™ SMC. In 2013, Magna and carbon fibre manufacturer Zoltek launched a carbon fibre reinforced SMC for automotive applications.
Expansion for CSP
Under the terms of the agreement, CSP will acquire 5 Magna Composites manufacturing facilities located in North America:
- Lenoir, Newton, and Salisbury, in North Carolina;
- Saltillo, Mexico; and
- a compounding facility located in Grabill, Indiana.
Collectively, these facilities employ more than 1000 people and encompass 600,000 ft2 of manufacturing space.
| The incremental capacity and resources gained position us extremely well for on-going growth and the ability to pursue a number of new business opportunities. |
| Frank Macher, CSP |
Manufacturing equipment and technical capabilities included in the transaction include SMC compression moulding machines of up to 4000 tons, horizontal presses, a prime paint line, robotic water jet machines, bonding applications and routing, and CNC routing.
“Through this acquisition, we gain significant heavy truck and consumer products expertise, as well as an expanded manufacturing footprint and broad range of manufacturing and technical capabilities,”says Frank Macher, chairman and CEO of CSP.