GenCorp, Draftex Combine to Create GDX Automotive
8 January 2001
GenCorp, Draftex Combine to Create GDX Automotive, a global Technology Leader in Sealing
Industry Leader in SUV Sealing, Top European Passenger Car Sealing Supplier
Combine Worldwide R&D, Manufacturing Capability
FARMINGTON HILLS, Mich., Jan. 8 GenCorp Vehicle Sealing,
the industry leader in sealing technology for sport utility vehicles (SUVs),
has been renamed GDX Automotive to reflect its expanded new role as a global
sealing leader in both cars and light trucks.
A distinctive logo has been designed for the new name, along with the
slogan: "Giving Shape to Innovation."
The announcement follows completion of the acquisition by GenCorp of The
Laird Group's Draftex International Car Body Seals Division on Dec. 29, making
GDX Automotive the second largest automotive vehicle-sealing supplier in the
world.
"GDX Automotive reflects the combined strength and capability of the two
companies," said Joe Gray, President of this major GenCorp segment. "With
Draftex, we are in many ways a new company, one that is truly global in scale,
offering unique research, development and manufacturing capability to serve
our customers around the world."
In addition to its leading role in the SUV market segment, GenCorp Vehicle
Sealing is a world technology leader in polyurethane bonding, a highly
engineered sealing system that is unsurpassed in preventing wind noise, water
leaks and emission intrusion into vehicle interiors while enhancing vehicle
styling and appearance.
Draftex is a leading supplier of sealing technology for passenger cars in
Europe and -- like GenCorp Vehicle Sealing -- a full-service supplier
providing everything from research, development and design to manufacturing,
validation and testing.
"With doubled sales approaching $1 billion, the combined strengths of
GenCorp Vehicle Sealing and Draftex are formidable," said Gray. "By combining
the strengths of GenCorp's North American and Draftex's European research and
development capability, we have enhanced our ability to support customers
anywhere in the world.
"In addition, our combined product development expertise will enhance our
ability to develop effective technological solutions while shortening the lead
time required to respond to local and global technology issues and trends,"
Gray added.
GDX Automotive's resources include:
-- More than 10,000 employees;
-- Two research and development centers, one at its headquarters in
Farmington Hills, the other in Dusseldorf, Germany;
-- 18 manufacturing facilities in 8 countries - U.S., Canada,
Germany, Ireland, France, Spain, Czech Republic and China;
-- Immediate access to the Asian market as a key platform for future
growth.
Gray pointed out that GDX Automotive also presents opportunities to
rationalize and restructure production capacity in both Europe and North
America to achieve better utilization of operations.
Draftex adds an important leading European presence in the passenger car
market segment, maintaining global relationships with Volkswagen, BMW,
Mercedes, Renault and Ford, and participating on key platforms that include
the Ford Focus, Volkswagen Golf and Renault Scenic.
GenCorp, as a leader in North American in the SUV and light truck market
segments, serves Ford, General Motors and Mercedes. Key GenCorp platforms
include the Ford F-Series and Ranger pickups, Ford Explorer, General Motors'
Chevy pickup and the Mercedes All Purpose Vehicle -- many of which are among
the top ten best sellers in the U.S.
GenCorp has further strengthened its position over the past two years with
numerous new platform awards such as the Ford Escape, Ford Explorer Sport,
Mazda Tribute and the next-generation Lincoln SUV.
"Together, GenCorp and Draftex provide a substantially broadened and more
diversified customer base for GDX Automotive, and a balanced portfolio that is
ideally positioned to grow, innovate and change with the marketplace,"
explained Gray.
"The process to integrate GenCorp and Draftex operations is underway,"
he said. "We are excited about the tremendous growth and improvement
opportunities GDX Automotive holds for the future."
GDX AUTOMOTIVE
FACT SHEET
GDX Automotive is the world's second largest automotive vehicle sealing
supplier and the global leader in sealing technology for cars and light
trucks.
Industry Distinctions: -- World's leading developer of sealing systems
for sport utility vehicles.
-- A European leader in sealing technology for
passenger cars.
-- Global reach with operations in North America,
Europe and the Pacific Rim.
-- Full service supplier -- i.e. research,
development, design, manufacturing, testing,
validation.
-- Proven track record of innovation and
advancements in sealing technology.
Technology: -- Inventor of flexible flush glazing systems.
-- Inventor of polyurethane bonding, a highly
engineered sealing system unsurpassed in
preventing wind noise, water leaks and emission
intrusion while enhancing vehicle appearance.
-- Inventor of Rollform(TM) seal installation
tooling, achieving outstanding sealing
performance with ease of installation.
-- Inventor of "PolyBond" high durability glass
run system.
Sales: -- $875 million
Employment: -- 10,370 employees worldwide
World Headquarters: -- Farmington Hills, Michigan, USA
European Headquarters: -- Dusseldorf, Germany
Technical Centers: -- North America -- Farmington Hills
-- Europe -- Dusseldorf
Global Reach: -- 19 manufacturing operations in eight countries
on three continents:
-- Batesville, Arkansas, USA
-- Berger, Missouri, USA
-- Marion, Indiana, USA
-- Salisbury, North Carolina, USA
-- Wabash, Indiana, USA
-- Welland, Ontario, Canada
-- Rehburg, Germany
-- Grefrath, Germany
-- Viersen, Germany (2)
-- Ballina, Ireland
-- Le Havre, France
-- Chartres, France
-- Corvol, France
-- Vails, Spain
-- Palau, Spain
-- Pribor, Czech Republic
-- Odry, Czech Republic
-- Beijing, China
Customer Mix: -- 55% North America, 45% Europe, Asia
Principal Programs: North America
-- General Motors -- Silverado, Yukon/ Tahoe,
Blazer, Grand Am, Malibu
-- Ford -- F 150 Pickup, Ranger, Explorer,
SportTrac
-- Honda -- Accord 2
Europe
-- Volkswagen Golf
-- BMW 3 Series
-- Ford Focus
-- Mercedes C-Class and E-Class
-- Renault Megane