ACME — As automakers race to incorporate more technology in their vehicles, automotive industry suppliers are starting to rethink their operations in West Michigan and beyond.
ACME — In his role as president of Shape Corp., Mark White often deals with disruptions in navigating the Grand Haven-based Tier 1 automotive supplier through uncertain business conditions.
Here is the MiBiz Growth Report for April 2, 2018.
• M&A: A subsidiary of Universal Forest Products Inc. (Nasdaq: UFPI) plans to acquire “substantially all” of the operating assets of Marietta, Ga.-based North American Container Corp., a producer of packaging products, according to a statement. The deal should close by June 1. Terms of the deal were undisclosed. The acquisition will add steel, corrugated and hardwood packaging to Universal’s lineup of industrial products. North American Container, founded in 1967, operates nine manufacturing facilities in Georgia, South Carolina, Tennessee and Wisconsin and recorded 2017 sales of about $71 million. Universal Forest Products in February reported that it generated $3.9 billion in net sales with net earnings of $119.5 million for 2017.
Automotive supplier Shape Corp. is selling its stamping operations facility in Spring Lake, the company announced Thursday.
Snaking across eastern and northern Ottawa County on its way to Lake Michigan, the Grand River provides much more than a source of recreation and a home to aquatic wildlife.
Here is the MiBiz Growth Report for Jan. 22, 2018:
• M&A: Bridgman-based Kruger Plastic Products has been acquired by Chicago-based private equity firm HC Private Investments, according to a statement. Kruger President Pat Brandstatter and VP of Engineering Dirk Kruger retained “significant stakes” in the custom injection molding company. Terms of the deal were not disclosed. Grand Rapids-based Varnum LLP served as legal counsel to Kruger, which was advised on the transaction by BlueWater Partners LLC, a Grand Rapids-based investment banking and consulting firm.
Automotive supplier Shape Corp. plans to acquire Trenton, Ohio-based Magnode Corp., a manufacturer of aluminum extrusion.
GRAND RAPIDS — While the automotive sector may be nearing the end of a strong sales cycle, West Michigan-based suppliers remain bullish on the industry.
As the pace of technological change intensifies for the automotive industry, suppliers are turning to acquisitions to reshuffle their businesses and prepare for the road ahead.
Automotive supplier Shape Corp. will invest $315,000 to create an advanced manufacturing education program at Grand Haven High School.