AUBURN HILLS — US Farathane Corp. Wednesday announced it has acquired Tepso Plastics Mex, a manufacturer of engineered plastic injection molded components and assemblies for the automotive sector with two production facilities in Mexico.
Terms of the acquisition were not disclosed.
US Farathane officials said Tepso’s production facilities in Monterrey and Romita, combined with its management team, asset base and manufacturing expertise, give US Farathane an opportunity to gain direct access into the growing Mexican auto sector.
“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 Andy Greenlee, US Farathane CEO. “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. We are bullish on Mexico and feel we are ideally positioned for the future.”
US Farathane now has 13 manufacturing plants in the United States and Mexico. Based in Auburn Hills, US Farathane offers the auto industry plastic interior and exterior components. Customers include Fiat Chrysler Automobiles, Ford, General Motors, Honda, Toyota, and others. More at http://www.usfarathane.com.
US Farathane is a portfolio company of the Gores Group, a global investment firm based in Los Angeles, Calif. More at http://www.gores.com.