Plastech Engineered Products
From Wikipedia, the free encyclopedia
| Plastech Engineered Products | |
|---|---|
 |
|
| Type | Private |
| Founded | 1988 |
| Headquarters | Dearborn, Michigan; manufacturing facilities in 9 U.S. states |
| Key people | Julie Brown CEO |
| Industry | Automotive Supply |
| Products | Automobile Components and systems |
| Employees | 7600 |
| Website | http://plastecheng.com/ |
Plastech Engineered Products is a tier-1 automobile supplier headquartered in Dearborn, Michigan. It is the largest women owned company in the state of Michigan. [1]
Plastech started in 1988 with the purchase of a single injection molding facility in Caro, Michigan. Since then the company has grown rapidly through a mixture of organic growth and acquisitions, the most notable of the latter being the purchase of United Screw and Bolt in 1997 and LDM Technologies in 2004.[2] In 2007 Plastech took over four plants and sales of US$700 million from Johnson Controls, bringing annual sales to US $1.7 billion.[3] Plastech's customers include General Motors, Ford Motor Company, Chrysler, and Johnson Controls.[4].
Plastech Engineered Products filed for Chapter 11 bankruptcy protection on February 1, 2008, following a dispute with Chrysler, its fourth largest customer. In recent years, the company has been run into the ground by CEO Julie Brown who makes "yearly bonuses" well in excess of one million dollars while her company continues to run further into debt. All Plastech employees will soon be laid off and scrapping by as its assets are sold to further increase the bank accounts of mismanagement. Plastech started out making extra profit by running 100 percent regrind to most of its jobs.[5]
[edit] Locations
Plastech employs 7,600 people in 31 manufacturing facilities, 2 corporate locations and a Technical Center North America:
Alabama
- McCalla, AL
Illinois
Indiana
Kentucky
Louisiana
Michigan
- Auburn Hills, MI (Corp.)
- Auburn Hills, MI (Tech. Center)
- Caro, MI
- Clarkston, MI
- Croswell, MI
- Dearborn, MI (Corp.)
- Fowlerville, MI
- Grandville, MI
- Hartland, MI
- Kentwood, MI x2
- Lansing, MI
- Monroe, MI x2
- Port Huron, MI
- Romulus, MI x2
Ohio
Tennessee
[edit] Website
[edit] References
- ^ Largest Women Owned Businesses. Crain's Detroit Business. Retrieved on June 19, 2007.
- ^ Plastech in Deal For United Screw. The New York Times. Retrieved on April 19, 2006.
- ^ Plastech To Take Over Holland JCI Plant. WZZM. Retrieved on June 10, 2007.
- ^ Martens Streses Plastech's Flexibility, Framework. Plastics News. Retrieved on April 19, 2006.
- ^ Plastech Files for Bankruptcy Protection. The Wall Street Journal. Retrieved on February 2, 2007.
- ^ Plastech's Official Website. Plastech Engineered Products. Retrieved on April 19, 2006.
