Plastech Engineered Products
| Company type | Private |
|---|---|
| Industry | Automotive |
| Founded | 1988 |
| Headquarters | Dearborn, Michigan , United States |
Area served | North America |
| Products | Automotive parts (injection molding) |
Number of employees | 7,600 |
Plastech Engineered Products was a leading tier-1 supplier in the automotive industry, based in Dearborn, Michigan, and stood out as Michigan's largest woman-owned enterprise. Established in 1988 through the purchase of an injection molding plant located in Caro, Michigan, Plastech experienced swift expansion via both organic development and strategic acquisitions, such as United Screw and Bolt in 1997 and LDM Technologies in 2004. The company's growth accelerated significantly in 2007 when it acquired four manufacturing facilities and $700 million in revenue from Johnson Controls, elevating its yearly sales to $1.7 billion. Its primary clients included major automakers like General Motors, Ford Motor Company, Chrysler, along with Johnson Controls.
Following disputes with Chrysler related to quality control concerns and financial difficulties, Plastech filed for Chapter 11 bankruptcy protection on February 1, 2008. Chrysler terminated its contracts due to ongoing quality deficiencies and Plastech's inability to fulfill financial commitments. This stance was supported by General Motors, Ford, and Johnson Controls. Subsequently, Plastech underwent liquidation, with significant assets being acquired by Johnson Controls. It is noteworthy that both Chrysler and General Motors also declared bankruptcy in 2009 but managed to repay their government-supported loans completely afterward.
In 2014, Plastech Holding Corp. initiated legal action against GreenTech Automotive over alleged disruptions to its partnership with Chinese vehicle manufacturer JAC Motors. That year also saw Johnson Controls divest its automotive interiors division; several former Plastech sites are now operated under Yanfeng Automotive Interiors.
Plastech's impact is commemorated through an endowed academic position at Brown University, the Plastech Professorship of Computer Science, currently occupied by Roberto Tamassia.
On October 19, 2017, Oak Point Partners, a private equity firm, purchased the remaining assets from Plastech’s bankruptcy estate.
Locations
At its peak, Plastech employed approximately 7,600 individuals across 31 production plants, two corporate offices, and a Technical Center throughout North America:
Alabama
Illinois
Indiana
Kentucky
- Louisville, KY (two locations)
- Owensboro, KY
Louisiana
- Shreveport, LA (facility closed following bankruptcy)
Michigan
- Auburn Hills, MI (Corporate Headquarters and Technical Center)
- Caro, MI
- Clarkston, MI
- Croswell, MI
- Dearborn, MI (Corporate Office)
- Fowlerville, MI
- Grandville, MI
- Hartland, MI
- Kentwood, MI (two locations)
- Lansing, MI
- Monroe, MI (two locations)
- Port Huron, MI
- Romulus, MI (two locations)
Ohio
- Andover, OH
- Brooklyn, OH
- Bryan, OH
- Byesville, OH (closed; resulted in loss of over 450 jobs)
- Cleveland, OH
- Moraine, OH
- Strongsville, OH
- Wauseon, OH
Tennessee
- Franklin, TN (closed August 2008)
- Kenton, TN (closed due to bankruptcy)