Nifco buys German auto parts maker

Kyodo

Nifco Inc., a maker of industrial plastic parts, including components for automobiles, said Wednesday it will acquire KTS GmbH & Co. KG of Germany to expand its business in Europe.

Under the deal, Nifco’s German unit, Nifco Deutschland GmbH, will make the German maker of plastic components for automobiles a wholly owned subsidiary.

The cost of the acquisition has not been disclosed.