Japanese auto industry supplier adds KTS to the fold / Expansion of its UK plant in Stockton begins

摘要

Supplier to the automobile industry Nifco (Tokyo / Japan; www.nifco.com) is busy at work broadening its reach across Europe. Through its German subsidiary, the Japanese company wants to acquire German interior components producer Kunststofftechnik Schmidt (KTS, Solingen; www.kts-schmidt.de). KTS specialises in injection-moulded ashtray systems, beverage holders, air distributors and storage compartments. The transaction is expected to be finalised in the second quarter of 2013 according to Siggi Baier, head of Nifco Deutschland (Eschbom) speaking to Plasteurope.com about the deal. KTS has around 300 employees and recorded revenues of EUR 26m for 2011 with an EBITDA of EUR 3.8m.