Composites supplier Continental Structural Plastics Inc. is buying the stamping operations of AMI Manchester LLC, a Tier 1 automotive supplier specializing in metal stamping, welding, tooling and light assembly.To get more news about automotive stamping parts, you can visit tenral official website.
Financial terms of the deal were not disclosed. Under the agreement, announced Aug. 1, CSP will acquire AMI's 90,000-square-foot headquarters and manufacturing facility in Manchester, Mich.
AMI Manchester has a full-service die maintenance department, including a wire electrical discharge machine and a sinker electrical discharge machine. The facility employs 70.
CSP, based in Auburn Hills, Mich., is owned by Japanese materials firm Teijin Ltd. It operates 18 facilities globally and has about 4,300 employees.
Going forward, AMI Manchester will be rebranded as CSP Stamping. The legal name will be Continental Structural Plastics Manchester LLC. It will operationally become part of CSP.
"CSP currently purchases a variety of stamped metal parts necessary to complete the assembly of a number of components," CSP CEO Steve Rooney said in a statement. "This acquisition allows us to bring these stamping operations in-house, securing our supply of needed parts and protecting our ability to provide on-going, uninterrupted shipments to our customer base."
In March, AMI said it was closing its 95,000-square-foot plant in Livonia and laying off 96 workers, according to a report from sister publication Crain's Detroit Business. The company said the closure was due to a loss of business.