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Eissmann Group Automotive in Mega Deal to Acquire Insolvent Plastics Converter

Article-Eissmann Group Automotive in Mega Deal to Acquire Insolvent Plastics Converter

Image: Eissmann Automotive Eissmann Automotive executives
Left to right: Eissmann Automotive's Dr. Wolfgang Braun, CEO; Claudia Eißmann, Chairman of the Advisory Board; and Sami Sagur, Chief Financial Officer.
Minda KTSN Plastic Solutions went into insolvency in June 2020. Headquartered in Pirna, Germany, the company also maintains sites in Mexico and Poland.

Germany’s Eissmann Group is set to take over the European plants of insolvent automotive plastics converter Minda KTSN Plastic Solutions GmbH & Co. (KTSN). Around a dozen companies from around the world were interested in the Pirna, Germany–based KTSN, yet the strategic integration of KTSN into the Eissmann Group proved to be in the best interest of its customers.

KTSN is a well-known automotive supplier in the fields of injection molding and mechatronics technologies. Its injection-molded products include gloveboxes, seat back panels, cup holders, and other plastic components for the automotive industry. The Pirna company, which filed for insolvency in June 2020, also has sites in Mexico and Poland.

Focusing on auto interiors, Eissmann Group Automotive has 12 sites across three continents, 5,000 employees, and total turnover of €470 million. In recent years Eissmann extended its expertise in the field of laminated leather for high-quality interior automotive components and continued to refine its development and industrialization processes. As a system supplier and expert in mobile living spaces, Eissmann works with almost all of the major automotive manufacturers and suppliers.

“This acquisition serves to expand our product lines at Eissmann Group Automotive,” said CEO Dr. Wolfgang Braun. “In addition to our lamination products and services, we can also provide fully integrated kinematics and non-kinematic plastic parts for vehicle interiors. We will deliver unique and inspiring solutions that are both forward-looking and sustainable,” said Braun.

“The takeover will secure over 400 jobs in Europe and retain the KTSN sites,” reported Sami Sagur, Chief Financial Officer at Eissmann Group Automotive. “We are still in talks with the insolvency administrator regarding the site in Mexico,” added Braun.

The takeover of plastics expert KTSN and additional expertise positions the Eissmann Group as a tech integrator and, thus, an even more effective partner for customers in the automotive industry, said the company.

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