On February 25, 2021 Eissmann Group signed a sales contract to take over the European plants of insolvent plastics expert Minda KTSN Plastic Solutions GmbH & Co. (KTSN). Companies from around the world were interested in the Pirna, Germany based KTSN yet the strategic integration of KTSN into the Eissmann Group proved to be in the best interest of its customers.
KTSN is a well-known automotive supplier in the fields of injection molding and kinematics technologies. Its products include gloveboxes, seat back panels, cup holders and other plastic components for the automotive industry. The Pirna company, which filed for insolvency in June 2020, also has sites in Mexico and Poland.
Eissmann Group Automotive has 12 sites across 3 continents, 5,000 employees and total turnover of 470 million Euros. In recent years Eissmann extended its expertise in the field of laminated leather for high-quality interior automotive components and continued to refine its development and industrialization processes. As a system supplier and expert in mobile living spaces, Eissmann works with almost all renowned automotive manufacturers and suppliers.
“This acquisition serves to expand our product lines at Eissmann Group Automotive. In addition to our lamination products and services, we can also provide fully integrated kinematics and non-kinematics plastic parts for vehicle interiors. We will deliver unique and inspiring solutions that are both forward-looking and sustainable,” says Dr. Wolfgang Braun, Chief Executive Officer at Eissmann Group Automotive.
The goal is to bring these different fields of expertise and technology together to create new solutions. As a company that truly thinks outside the box, Eissmann doesn’t simply follow trends, they also shape them and turn complex challenges into something exciting.
“The takeover will secure over 400 jobs in Europe and retain the KTSN sites,” reports Sami Sagur, Chief Financial Officer at Eissmann Group Automotive. “We are still in talks with the insolvency administrator regarding the site in Mexico,” adds Dr. Wolfgang Braun.
The takeover of plastics expert KTSN and additional expertise positions the Eissmann Group as a tech integrator and thus an even more effective partner for customers in the automotive industry.