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Collins & Aikman plans to make noise in acoustics.(possible plastics acquisitions to help it improve its overall strength in automotive acoustics)(Brief Article)(Statistical Data Included)
Crain's Detroit Business, February, 2001 by Miel, Rhoda
With a new financial partner lined up, a reinvigorated Collins & Aikman Corp. is looking at some possible plastics acquisitions to help it improve its overall strength in automotive acoustics. Heartland Industrial Partners L.P. has spent $260 million for a 60 percent stake in Troy-based Collins & Aikman.
The company plans to lower debt and free up money for purchases and business alliances. For an auto supplier eager to build a reputation as the acoustics leader, that could mean expanding its product reach so it can control every material in a vehicle interior, Chairman and CEO Thomas Evans said in a recent conference call with analysts. ``The acoustics, sound-engineering game is going to be a major boon for us,'' he said. ``We want to continue muscling up...
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