As reported earlier, Piston Group has acquired Takata's Irvin Automotive Products, creating one of the largest privately-owned automotive supplier groups in Michigan.
The expanded group is expected to post record sales of more than US$1.8bn in 2016 with 8,300 employees at 15 facitories in the United States and Mexico. Other companies in the group include Piston Automotive, Detroit Thermal Systems and AIREA.
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Headquartered in Pontiac, Michigan, Irvin is a manufacturer of interior trim and seating material. A wholly owned subsidiary of Takata, the company has annual sales of $500m with facilities in Del Rio, Texas; Acuna, Mexico, and Sabinas, Mexico.
"Our vision is to become a fully integrated global supplier," said Vinnie Johnson, the Piston Group's chairman and CEO. "The purchase of Irvin Automotive strengthens our engineering and manufacturing expertise and will allow us to provide a concept-to-completion platform across the automotive industry and other diversified industries as well.
"With our eyes on the future, we believe that Irvin will play a significant role in the double-digit growth we expect to achieve over the next several years."
As a group, Johnson's companies now rank among the top five privately owned automotive suppliers in southeastern Michigan, according to Crain's Detroit Business. Customers include FCA US, Ford, General Motors, Honda, Toyota and ZF.
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By GlobalData
Irvin Automotive adds Nissan to the group's customer list.
Johnson said Irvin Automotive would operate as a separate company within the group, adding that Irvin's president Joseph Finn along with his management team will continue to head the company.
