After months of speculation about its future, Continental Industries in Benzonia has a new owner.

Magna International of America Inc. purchased the company on Monday from Continental Plastics Co. and renamed it Magna Interior Trim Components (MITC) Benzonia. The plant is located at 2532 Benzie Hwy.

The employee head count is “over 60,” according to Tracy Fuerst, Magna’s director of corporate communications & media relations.

The plant is now a division of the Magna Exteriors and Interiors operating unit, she says. Products include door panel assemblies, seat back assemblies, console assemblies/systems, armrest covers, tactical vests and seat covers. Its OEM customer is General Motors.

Continental Industries’ parent company, Continental Plastics Co., was an injection molder based in Fraser, Mich. It also had plants in St. Clair and Chesterfield, and one in Alpharetta, Ga.

According to a woman answering phones at Continental’s headquarters last week, the Fraser, Chesterfield and Georgia plants are all closing down; Russ Thomas, executive vice president and COO, is no longer with the company.

Magna is also buying the St. Clair plant, Continental Coatings, confirms Fuerst.

Continental’s sales peaked at about $180 million in 2006 and 2007, but declined to approximately $90 million as of last year, according to Crain’s Detroit Business.

At one point, the Benzonia plant employed approximately 130. But in January, it seemed close to being shuttered altogether.

In a Jan. 13 “Notice of Facility Closing” letter to the State of Michigan, Thomas said Continental Plastics and its affiliates had been “experiencing a general economic downturn and lack of work to justify the continued existence” of the Benzonia plant, and that it would be “permanently closed in the near future.”

Benzie County Chamber of Commerce (and Visitors Bureau) President Mary Carroll is glad to see that’s no longer true.

“The Chamber is pleased that Magna will be operating in Benzie County, retaining jobs with the potential for future creation of additional positions,” she told The Ticker yesterday afternoon.

Calls to Benzonia plant manager Keith Lake went unreturned.

Continental purchased Mitchell Manufacturing in Benzonia in 1998 to expand business opportunities.

Magna, a publicly-listed company since 1961, designs, develops and manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to OEMs of cars and light trucks in North America, Europe, Asia, South America and Africa.

It has more than 102,000 employees in 263 manufacturing operations and 84 product development, engineering and sales centers in 26 countries.