The Manuel Champalimaud Group (GMC) acquired the decorative and interface plastics unit for the automotive industry of Novares (Novares European Bezels & Clusters) from Novares.
In the plastics and molds sector, GMC had already acquired GLN, with headquarters in Leiria and factories in Leiria and Mexico, a business group dedicated to the development and manufacture of high-precision technical molds and injection parts plastics, and is in the process of expanding its production capacity in Mexico.
The decorative plastics unit for the interior of motor vehicles at Novares in Portugal also has a factory and a technological and development center in Leiria and another production unit in Vendas Novas.
According to a communiqué from the GMC, the acquisition of the business of decorative plastics and interface parts, destined for infotainment, instrument clusters and climate control, still awaits the approval of the Competition Authority, but aims to reinforce the position of the national business group in the market for plastic components for the automotive industry.
Novares’ unit of decorative plastics for the interior of motor vehicles in Portugal has two factories, in Leiria and Vendas Novas, and a technological and development center in Leiria, employing more than 600 employees, with an annual turnover of around of 50 million euros and a portfolio of national and international clients.
According to the same source, the French group went ahead with the sale because it decided to focus on its portfolio of products and design solutions, maintaining its presence in Portugal, through a factory in Arouca.
Manuel Champalimaud, Chairman of the Board of Directors of GMC, states that, “with this acquisition, the Manuel Champalimaud Group reinforces its commitment to Portugal and its professionals, reinforcing its competitive capacity in the plastic injection sector, also positioning itself as an innovative group , with state-of-the-art technology, focused on meeting the needs of the European and North American markets.”
About the Manuel Champalimaud Group
Assuming in 2019, in celebration of its 15 years of existence, the name of its founder, Gestmin is now called Manuel Champalimaud SGPS