Amberg, Germany; Toledo, Ohio – Automotive interior component supplier Grammer AG in Amberg, Germany, plans to buy Ohio’s Toledo Molding & Die Inc.(TMD).
The TMD Group specializes in developing and producing innovative thermoplastic components in the North American automotive market. With this transaction, Grammer Group is systematically acquiring technology companies to enhance its product range and process expertise.
TMD develops and produces mainly interior components for visible and non-visible applications for the automotive industry. In more than 60 years, TMD has transformed into a leading development and process specialist for thermoplastic solutions with its own tooling engineering for the North American automotive market.
The acquisition is still subject to antitrust clearance and other standard closing conditions. It is expected to close the transaction in the third quarter 2018.
According to preliminary figures, TMD Group generated revenues of more than $300 million in 2017 and has 1,600 employees at 11 facilities in the United States and Mexico.
With the acquisition of TMD, Grammer can further expand its position in North America and increase the revenue contribution generated in the world’s second largest automotive market (behind China).
In addition to this top-line growth, Grammer can particularly benefit from TMD’s broad-based production network and increase its local manufacturing capacities in the United States.
The TMD Group has 100 engineers based at its development centers in Ohio and Michigan, where it works on complex thermoplastic products, new materials, and innovative production processes.
Grammer’s global presence and expertise in components for passenger and commercial vehicles offer TMD additional growth potential outside of NAFTA. Moving forward, it will be possible to make TMD’s product range available to a substantially broader customer base in the passenger and commercial vehicle segments.