Auto Supplier Acquires Aluminum Extruder to Expand Lightweighting Capabilities
A Michigan-based auto lightweighting supplier with in-house heat treating capabilities expects the company’s acquisition of an aluminum extruder, located in Trenton, Ohio, to be completed during the first week of March after all transaction terms are complete.
Shape Corp. announced in January a purchase agreement had been accepted by Magnode, which will transfer ownership after 70 years of operation under four generations of management. The deal comes after a successful business relationship between the two companies that included collaboration on engineering projects, as well as shared research and development around lightweighting best practices. Going forward Magnode will operate as a division of Shape. The purchase expands Shape’s lightweight product and process portfolio beyond ultra-high strength steel roll forming, thermoplastic injection molding, and composite pultrusion.
“Magnode is the perfect addition to Shape,” said Shape president Mark White. “Our company cultures align extremely well, we both have a passion for innovation, engineering and customer service. Coupling Magnode’s decades of experience in the aluminum extrusion business with Shape’s global footprint and engineering know-how in impact energy management and body structures will mean that Shape is now a fully integrated, one-stop shop for customers seeking aluminum solutions. We can support customers with engineering, development, and manufacturing in both 6000 or 7000 series aluminum applications and our value stream is optimized to provide the most competitive solutions possible.”
A joint integration team, compromised of members from both companies, has been formed and will be managing the transition over the coming year. Magnode’s Trenton, Ohio, facility will continue normal operations under current leadership.
“This acquisition allows Magnode to dream freely again, while imagining what we can become as we integrate into a larger world model,” said Martin Bidwell, Magnode president and chief executive officer. “I am very excited that the Magnode brand will continue for many years after I am gone. This magnificent company will forge on, breaking the boundaries that we personally could only dream about.”
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