Central Glass Co. Ltd., a parent company of Carlex Glass Co., has resolved to conclude a share transfer agreement to acquire all of the outstanding shares of two subsidiaries of Guardian Industries Corp.—Guardian Automotive Products, Inc. (GAPI), headquartered in Sterling Heights, Mich., and Guardian Automotive-E S.A. (GA ESA), headquartered in Luxembourg.
This transaction by Central Glass Co. Ltd. includes three automotive glass manufacturing sites and the GAPI headquarters. The glass plants are located in Auburn, Ind.; Ligonier, Ind.; and Grevenmacher, Luxembourg. Central Glass Group plans to operate the acquired businesses under the Carlex name.
“We are acquiring these Guardian subsidiaries to further strengthen our global automotive glass business,” says Shuichi Sarasawa, president and CEO of Central Glass Co. Ltd.
“This move will expand our geographic footprint and add to our product portfolio, in addition to increasing the number of customers we serve,” adds Jim Shepherd, president and chief operating officer of Carlex. “Add that to our existing capabilities, and the combined organization is positioned to further improve support to our customers.”
Central Glass says the acquisitions will provide wider OEM and aftermarket production capabilities and an expanded line of products for distribution to the aftermarket, advanced solution capabilities and a broader customer base of global original equipment manufacturers. It also provides Carlex with the ability to expand its presence in Europe. Closing of the transaction is subject to certain regulatory approvals and customary closing conditions.
Officials at Carlex anticipate positive synergies with this deal, such as sharing of production techniques.
“Carlex’s agreement to purchase Guardian’s OEM business, coupled with its previous purchase of Zeledyne’s auto glass manufacturing facility in Nashville and aftermarket distribution center in Lebanon, Tenn., is strong evidence of its commitment to the automotive glass business in both OEM and aftermarket,” says Mike Morrison, president of Guardian Automotive. “Our people will be joining an established brand with a long-term focus on the automotive glass business.”
“We extend a warm welcome to the current Guardian employees who will be joining the Carlex family,” says Shepherd. “This transaction will help build upon Carlex’s participation in the resurgence of manufacturing in the U.S. and extend our reach into Europe.”
Currently, Carlex provides original equipment glass and replacement glass for a variety of OEM automakers and the aftermarket. Carlex products include windshields, sidelites, backlites and sunroofs.