Flex-N-Gate Corporation Business Report FY ended Dec. 2016
-In December 2016, Plastic Omnium announced that in accordance with the European Commission's decision to require Plastic Omnium to divest assets included in the acquisition of Faurecia Auto Exterior, Plastic Omnium received a binding offer from the Company to acquire the seven affected sites (four in France, one in Spain and two in Germany), for an enterprise value of EUR 200 million. This proposed transaction must undergo the procedures relating to the staff representation bodies in the countries concerned, and obtain the authorizations form the European Commission and the competent competition authorities. It should be finalized during 2017 (From a press release on December 23, 2016)
-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.
-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)
|2016||World Excellence Award||Ford|
|2016||Supplier Quality Excellence Award||GM|
|2016||Silver Supplier Excellence Award||Subaru|
|2016||Excellent Technology & Development Award||Toyota|
|2016||Supplier of the Year Award||GM|
|2015||Supply Chain Management Supplier of the Year||FCA|
|2015||TQA Gold Award||Toyota|
|2015||Silver Supplier Excellence Award||Subaru|
|2015||World Excellence Award||Ford|
|2015||Supplier of the Year Award||GM|
|2014||Supplier of the Year Award||GM|
|2014||Silver Supplier Excellence Award||Subaru|
|2014||Global Quality Brand Pillar Award||Ford|
|2014||Supplier Quality Excellence Award||GM|
|2014||Gold Quality Alliance Award||Toyota|
|2013||World Excellence Gold Award||Ford|
|2013||Supplier Quality Excellence Award||GM|
|2012||World Excellence Gold Award for Metal Bumpers||Ford|
|2012||Supply Chain Management Award||Chrysler|
|2012||Supplier of the Year Award||GM|
|2011||World Excellence Silver Award for Metal Bumpers||Ford|
|2011||Excellence Award for Allied Business Principles||Ford|
-The Company has more than 100 employees working on developing product concepts and prototyping.
-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.
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)
-The Company has over 240 patents.
Investments in U.S.
-In April 2017, the Company broke ground for a new USD 95 million manufacturing facility in Detroit, Michigan, U.S. The facility represents the largest investment in Detroit over the last 20 years by an automotive supplier, and is expected to employ as many as 700 people by mid-2018. The 350,000 square-foot facility will occupy 30 acres of land near the Coleman A. Young International Airport. The Company manufactures vehicle front end components, such as headlamps, bumpers and fascias. The Company was awarded a long-term contract with Ford Motor Co. to supply components for an unnamed vehicle, which led to the investment in Detroit. (From The Detroit News article on April 24, 2017)
-Ventra Angola, a parts manufacturer for the automotive industry, announced plans to expand its operations in Angola, Indiana. The company, a subsidiary of the Company, will utilize USD 8.1 million to increase manufacturing capacity at its 128,000-square-foot facility. Ventra Angola will purchase new equipment, including roll mills, and reconfigure its operations so as to increase its production of parts by 70% in support of a new contract with General Motors. Ventra Angola plans to begin installing new equipment in the first quarter of 2017 in order to ramp up production by October 2017. (Indiana Economic Development Corp. release from October 13, 2016)
-In October 2016, the Company announced plans to invest USD 22.3 million in its facility in Emmett Township, Michigan, U.S. The investment would add 34,000 square feet of manufacturing space for additional stamping and welding operations and would add 59 new jobs. The Company would receive a USD 250,000 grant from the Michigan Business Development Program. (From multiple sources in October 2016)
-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.