January 13, 2016 Updated 1/13/2016
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US Farathane Corp. With the acquisition of Tepso Plastics Mex, US Farathane Corp. will have 13 plants in the U.S. and Mexico.
US Farathane Corp. has grown into Mexico by acquiring Tepso Plastics Mex and its two facilities.
Farathane picked up automotive injection molding components and assemblies plants in Monterrey and Romita, the Auburn Hills, Mich., firm announced Jan 13.
“Tepso is the perfect fit for our expansion into Mexico, and we are excited to complete this acquisition as a key part of our strategy to provide global solutions to our customers,” said Farathane CEO Andy Greenlee in a news release. “In addition to two first class facilities, we are gaining access to an outstanding group of highly skilled and dedicated employees that have driven world class results. With locations in northern and central Mexico, we are well aligned to serve our existing and future customers.”
The two Mexican sites ratchet up Farathane’s number of operations in the United States and Mexico to 13. In spring of 2015 it opened its eleventh plant, in Riverside, Mo., near Kansas City.
Greenlee indicated his firm’s customer list in the United States and Mexico offers opportunities for Tesco to pick up new clients. Mexico is becoming a major auto production hub, with new assembly plants opening and automakers seeking suppliers for the region.
Greenlee stated in a news release that his company will keep terms of the deal confidential.
A year ago, private equity firm Gores Group of Los Angeles paid more than $ 100 million to acquire Farathane. Farathane makes both functional and decorative plastics for the auto industry.
