Novares has completed the acquisition of US company Miniature Precision Components (MPC), a thermoplastic supplier that develops plastic components and integrated modules for vehicle powertrains. The acquisition of MPC, with a turnover of US$265m in 2018, nearly doubles the size of Novares’ engine business.
This transaction also adds six manufacturing sites – five in the USA and one in Mexico – to the group’s eight existing sites in North America. Acquisition of MPC’s attractive customer portfolio, which includes Ford, General Motors, FCA, Nissan and Toyota, ensures that the group will now supply powertrain parts to all major OEMs worldwide.
MPC also brings with it a range of high-quality and innovative components that are used in complex, system-critical powertrain and underhood applications such as engine and transmission sealing, air and fluid management and emissions control. MPC’s 3D suction blow molding and molded foam capabilities will enable Novares to develop new products in engine product engineering.
Pierre Boulet, CEO of Novares, said: “The acquisition of MPC, a leader in a fast-growing market, marks an important step for the development of Novares’s powertrain business, which will now have a global reach and reinforced value-added product portfolio.
“It is also in line with our strategy to be an agile global partner for our customers with the ambitious goal of reaching €2bn (US$2.26bn) in sales by 2020 through targeted external and internal growth operations as well as organic innovation.”