It's imperative that we focus on our core lines of business and continue to develop innovative plastic injection tooling and molding solutions...
COLUMBUS, Ohio (PRWEB) October 17, 2019
EG Industries announced today that a definitive agreement has been signed to sell its brake assembly and sequencing business known as Marion Industries to Piston Automotive, a subsidiary of the Piston Group. Piston Automotive is one of the nation’s leading value add automotive assembly companies and an MBE Certified minority-owned business. Under the terms of the agreement, EG Industries will sell its facility located in Marion, OH and all employees from that facility will become Piston Automotive employees.
Marion Industries was established in 1999 as a Tier 1 supplier to Honda of America. As a sequenced modular assembler, Marion Industries represents a strong strategic fit for Piston Automotive. It will join Piston Automotive’s growing list of manufacturing facilities across North America and will operate as a Piston Automotive assembly plant location.
The decision to divest Marion Industries was strategic for EG Industries and the executive management team is enthusiastic about the potential that the transaction unlocks for the company. “As we enter the next phase in our history and continue our growth, it’s imperative that we focus on our core lines of business and continue to develop innovative plastic injection tooling and molding solutions for our customers in the automotive industry,” said Vinc Ellerbrock, CEO-President of EG Industries.
“Focusing on our core business will enable us to shore up our capabilities in wheel trim, interior/exterior trim, and functional/structural parts to better serve the needs of our customers,” explained Rob Simon, Vice President for Business Development for EG Transpire, the automotive division of EG Industries. “We’ll be able to move faster, make greater impact, and deliver unparalleled value to our customers,” he added.
EG Industries, an MBE Certified minority-owned business based in Columbus, OH, is a vertically integrated plastic injection molding company with 13 manufacturing facilities globally serving customers in the automotive, medical, and consumer/industrial markets, providing R&D, design and engineering, as well as tooling and production expertise across the entire manufacturing process to deliver critical components and high precision products. Please visit https://www.egindustries.com for more information.
Name: Robert Bolongaita
Phone: (614) 219-1423