Grupo Antolin strengthens its industrial presence in North America



Grupo Antolin strengthens its industrial presence in North America

2015-11-19
  • The company will open two new centers in Louisville, Kentucky and Tlaxcala, Mexico
  • These quarterly figures include, for the first time, the results for the new Cockpits & Interior trim division for the month of September
  • In October the company completed the acquisition of the Chinese factories of the interiors division of Magna Interiors

 

Grupo Antolin will open two new production centers in North America in the coming months with the aim of further strengthening its industrial presence and responding appropriately to the needs of its customers. The two new centers will be located in Tlaxcala (Mexico) and Louisville (United States). The first of these factories will be engaged in the production of plastic parts and headliners, while the second will be responsible for manufacturing overhead systems.

These openings will consolidate the company's presence in the world's second largest automotive market (after China), where Grupo Antolin has already been operating for over twenty years and has 26 factories and more than 7,200 employees.  It is noteworthy that this region now contributes 34% of total sales.

Third quarter results

In the period between July 1 and September 30 of this year, the company reported sales of €818.5 million, representing an increase of 56.5%. These figures include the revenues generated by the new instrument panels business unit during the month of September, the result of the integration of the interiors division of Magna. Excluding these figures, the growth would have been 19.8% to €626.8 million.

The increase in sales was due to the success of the products of the company in Nafta and Europe, the euro's depreciation against the dollar and other currencies and the contribution of the new factories. Noteworthy here are the new centers in Valencia, in Spain, and Missouri, in the United States, which have contributed over €25 million in revenue over this quarter.

The business unit that grew most was the overhead systems unit, where we can highlight the rise of major projects for manufacturers such as Daimler, Opel and Ford, among others.

The increase in sales due to the integration of the interiors division of Magna, the maintenance of fixed costs and a slight reduction in variable costs have allowed for an increase in the EBITDA and EBIT of the company. In the third quarter, these figures stood at €75.8 and €48.2 million respectively.

Evolution of the quarter

On August 31, Group Antolin completed the acquisition of the interiors division of Magna. With this operation, the company becomes one of the leading global providers for car interiors. According to the published proforma data, annual global sales would exceed €4,000 million and it would have a workforce of 28,000 employees in the 161 factories in 26 countries.

The operation included the acquisition of 26 production units that was conducted in two parts. The first included all of these except for the ones in China, which were finally incorporated on October 16.

Moreover, the company is making a major effort to ensure the quick and easy integration of the new businesses and therefore offer an excellent service to its customers.

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