Mexican Media Brands
Flex-N-Gate to Buy 7 European Plants from Plastic Omnium
Urbana, Ill.-based Flex-N-Gate Group has entered into exclusive talks with Plastic Omnium SA to acquire seven of the French company’s factories in Europe.
Share
Urbana, Ill.-based Flex-N-Gate Group has entered into exclusive talks with Plastic Omnium SA to acquire seven of the French company’s factories in Europe.
Plastic Omnium is divesting the plants as required by the European Union because of the company’s €665 million ($690 million) acquisition in July of Faurecia SA’s auto exterior operations. The facilities—four in France, two in Germany and one is in Spain—make vehicle bumpers and front-end modules.
The plants represent about $700 million in annual revenue and employ a combined 2,000 workers. Flex-N-Gate, a supplier of trim and assemblies, has been expanding rapidly. The company is building a $90 million parts plant in central Detroit and reportedly is a among three final bidders for struggling airbag supplier Takata Corp.
RELATED CONTENT
-
GM Develops a New Electrical Platform
GM engineers create a better electrical architecture that can handle the ever-increasing needs of vehicle systems
-
On Automotive: An All Electric Edition
A look at electric vehicle-related developments, from new products to recycling old batteries.
-
Cobots: 14 Things You Need to Know
What jobs do cobots do well? How is a cobot programmed? What’s the ROI? We asked these questions and more to four of the leading suppliers of cobots.
