KB Components: Swedish plastics processor takes over Innotech Precision

The Swedish plastics processor KB Components is strengthening its position in Canada with a further acquisition.

In a press release at the beginning of the month, KB announced the acquisition of the industry company Innotech Precision. However, no information was provided in the press release regarding the financial volume or further details of the transaction.

Innotech Precision produces injection moulded components for applications in the automotive sector and other industries. The company is based in Toronto in the province of Ontario and employs around 60 people, with annual sales of around CAD 16 million (EUR 11 million) according to KB. Innotech Precision will in future be part of the KB subsidiary KB Components Canada.

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With the current takeover, KB Components is continuing its expansion course in North America. It was only in May of this year that the Swedes acquired the US injection moulding company QFC Plastics. The company is based in Arlington, Texas, and has an annual turnover of around USD 13 million. The two companies Lakeside Plastics and PM Plastics, both based in Windsor, Canada, had already been acquired by KB in previous years. The group also has production sites in Irapuato and Puebla in Mexico.

KB Components is headquartered in Örkelljunga near Helsingborg and, in addition to North America, also has production sites in Anderstorp and Gislaved in Sweden, Kaunas in Lithuania, Žilina in Slovakia and Wuxi in China. The Group's product range primarily comprises plastic components for the automotive industry as well as for the furniture manufacturing, lighting, medical technology and chrome-plating sectors. In the 2002 financial year, total sales totalled SEK 1.839 billion (EUR 164 million). The majority shareholding in KB Components is controlled by the Swedish BrA Invest Group.

More information: www.kbcomponents.com, www.innotechprecision.com

KB Components, Örkelljunga nearby Helsingborg, Sweden