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5. Flex-N-Gate Corporation Business Report FY ended Dec. 2016

Flex-N-Gate Corporation Business Report up until 2016

Recent Years

Acquisitions

-In December 2015, a Company affiliate acquired Cooper-Standard Rockford, a subsidiary of Cooper-Standard which specializes in the manufacturing of decorative and functional exterior components. Cooper-Standard Rockford also specializes in supplying a clear hardcoat that provides durability, abrasion resistance, and weathering performance. The acquisition supplements the Company’s exterior trim product line. (From a press release on December 2015)

-In May 2012, the Company reached an agreement with Ford Motor Company's Automotive Components Holdings LLC (ACH) to purchase its headlamp and taillight business. The Company will acquire ACH's injection molding plant in Sandusky, Ohio, U.S., which will operate under the name of Ventra Sandusky. The transaction is expected to be completed on June 30. (From a press release on May 31, 2012)

-In July 2009, the Company acquired Meridian's bumper systems business located in Fowlerville, Grand Rapids and Ionia, Michigan and in Angola, Indiana.

-In 2008, the Company acquired BlackHawk Automotive Plastics, Inc., expanding its interior plastics assemblies capabilities.

-In 2007, the Company expanded its plastics and sequencing capabilities with the purchase of the Collins and Aikman facilities in Evart, Michigan, U.S.; Belvidere, Illinois, U.S.; St. Louis, Missouri, U.S.; and Windsor, Ontario, Canada.

Contracts

-Osram Licht AG announced that the 2015 Ford "F-150" will be the world's first pickup with a complete forward LED lighting solution from Osram. The lighting system consists of dipped beam and high beam headlights, turn indicators, parking lights, and a control module. Osram worked closely with the Company to develop the lighting solution in such a fashion to give the 2015 "F-150" a unique appearance. (From a press release on April 16, 2014)

Awards

R&D Structure

-The Company has more than 100 employees working on developing product concepts and prototyping.

R&D Facilities

-The Company has nine product development and engineering facilities located in Canada, the U.S., Mexico, Argentina, Brazil and Spain. In North America, the Company has seven testing facilities used for lighting and bumper testing and validation.

Product Development

One-piece fog-lamp bezel
-The Company worked with both Ford Motor Company and Styroution, a leading global supplier of thermoplastic elastomers, to develop a one-piece fog-lamp bezel for Ford vehicle models. The component is injection molded by the Company using a resin developed by Styrolution. The bezel provides weight savings of almost one pound, and has aerodynamic features that improve fuel economy. The bezel can be found on the 2015 Ford "Mustang" and will be implemented on other Ford vehicles. (From a press release on December 18, 2015)

Patents

-The Company has over 240 patents.

Investments in U.S.

-On May 2016, the Company announced that it would invest USD 95 million in construction and capital costs for a facility located in Detroit, Michigan to supply parts to Ford. Possible further investments in the project could push the total invested in the facility to USD 100 million. The new facility will create at least 400 and up to 650 new jobs in Detroit over the next three years. At full capacity, the plant will employ up to 750 workers. (From a news article on May 25, 2016)

-In October 2015, the Bessemer City Council approved a tax abatement package for the Company's planned expansion of its manufacturing facility in McCalla, Alabama, U.S. The Company is expected to invest USD 23.9 million to expand its McCalla facility in order to produce front end and rear bumpers for Nissan vehicles. The Company is expected to add 107 new employees by 2017. (From a press release on October 23, 2015)

-In June 2014, Ventra Ionia LLC, a subsidiary of the Company-owned Ventra Group, announced that it would expand its operations in Ionia, Michigan, U.S. USD 8.5 million was invested into the expansion by the company to add 144 new jobs. Additionally, the expansion was assisted by a Michigan Business Development Program grant and a local property tax abatement totaling approximately USD 1 million. Ventra Ionia manufactures front and rear bumpers and grille assemblies for vehicles made by Ford and General Motors. (From a press release on June 18, 2014)

-In November 2013, Ventra Plastics, a division of the Company, announced plans to expand its operations in Kentwood, Michigan, U.S. by purchasing and remodeling a plant. The Company expects to invest USD 16.3 million in the expansion and hire 150 new employees over the next three years. (From a press release on November 13, 2013)

-In February 2012, the Company announced that it would expand its operations in Covington, Indiana, U.S., creating up to 68 new jobs by the end of 2012. The Company has already begun investing USD 5.1 million towards the purchase of robotic welding cells and improving the plant's supporting infrastructure . (From a press release on February 28, 2012)

Investments outside U.S.

-Since 2010, the Company has established manufacturing facilities in both China and Brazil.