By Scott Miller
smiller@scbiznews.com
Published Oct. 7, 2009

LSP Automotive Systems in Union was sold to a Spanish company that is building an automotive parts stamping operation near the new Volkswagen plant in Tennessee.

LSP employs around 150 people and supplies stampings and assemblies for the BMW X6 manufactured in Spartanburg County, according to LSP’s Web site.

According to multiple German media reports, Gestamp Automocion of Spain has purchased LSP from Laepple AG of Germany. According to the reports, Laepple intends to focus capital on its German operations. Terms of the sale were not released.

Gestamp, meanwhile, is expanding its U.S. operations. The company has a North American headquarters in Troy, Mich. and has broken ground on a $90 million stamping plant in Chattanooga, Tenn. that is expected to employ 230 people in three years. The 225,000-square-foot facility will supply stampings to a new Volkswagen plant there.

Gestamp North America President Jeff Wilson was unavailable this morning, so it remains unclear how Gestamp will integrate LSP into its operations.

An LSP Automotive representative in Union confirmed the sale but could not comment.

LSP was founded in 2005 specifically as a BMW supplier and was the first automotive supplier in Union County. Last October, LSP announced a $45 million expansion at the facility that was expected to result in 61 more jobs, beyond the 150 employed there at the time.

Gestamp North America is a subsidiary of Gestamp Automocion, a privately held company based in Madrid, Spain with 75 sites all over the world.