FRANKFURT - German plastics and chemical group Rutgers has sold its soundproofing and automotive plastics operations to a private equity consortium.
The two businesses, CWW-Gerko in acoustics and RTK in plastics, had combined sales of about $216 million in 2000.
The investor group is led by Deutsche Beteiligungs, BdW and Sued Private Equity Management. The price was not disclosed.
CWW-Gerko has five plants, three in Germany, and employs 1,270 people. RTK has five plants, two in Germany, and employs 600 people.
The main customers for the Rutgers units are Fiat, DaimlerChrysler, General Motors and Volkswagen.
The businesses have "excellent profitability," said Deutsche Beteiligungs spokesman.