Photo by Teknia Injection moulding at Teknia Group

Spanish auto parts producer Teknia group announced its plastics moulding division posted record sales of almost €105m during 2015 - the highest achieved by any division since the firm’s formation in 1992.

The plastics business recorded its annual turnover increased last year by 11% against the revenue of 2014. This, emphasised the Bilbao-based company, resulted solely from organic growth achieved in recent months.

Teknia’s plastic components moulding operations, comprising seven plants, five of them outside Spain, have seen continuing sustainable growth since 2007.

Meanwhile, the group which also produces metal components and lathed screws and shafts, is to receive a €2m loan from Spain’s state/private owned development firm COFIDES to support its international expansion.

Madrid-based COFIDES said the new finance is destined to fund investment in the tier two automotive supplier’s overseas subsidiaries. Teknia, with operations in six countries, has been undertaking development projects in Poland, the Czech Republic and in Mexico.

Teknia announced it has signed a deal for a “multi-technology” project to produce injection moulded plastic parts at its plant at San Luis Potosi, Mexico for General Motors. The joint project with the Israel-based full service parts supplier Arkal Automotive and GM is due to provide rear and front beam lighting parts for two models of GM.

This contract was described by Teknia as “a challenge of innovation” requiring over moulding injection technology for galvanised and flared pipe and four circular brass insert parts.

In the Czech Republic, Teknia’s plant at Uhersky Brod is working on the production of exterior water deflector components for three different SUV projects for ?koda-Auto and Seat.

The plant, using a 22 tonne tool on its biggest 2,300 tonne injection moulding machine, already successfully supplied trial parts to ?koda-Auto. Teknia was due to test another tool for the Seat component order, it said in January.

Teknia group is expecting to achieve overall annual sales during this year of €336m, it said.