Asian Expansion of a European Automotive Plastic Supplier
Enjoying comfortable market share in both Europe and North America, this Division wanted to expand into Asia. While Korean OEMs were already employing plastic products from competitive sources, Japanese OEMs were still using older technology (steel) but were also evaluating the new plastic technology.
After market research and customer visits, CEOACH consultant recommended buying a competitor company in Korea [for plastic technology production] whilst establishing a tech center in Japan for market development and customization for all Asian customers. The approach was very successful and resulted in a further acquisition in Japan (Nissan in-house production take-over), a new establishment in Thailand for Toyota and Isuzu, and business awards in Europe and NA for Asian OEMs.