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Plastic Omnium Agrees to Buy Faurecia’s Exterior Systems Business
Plastic Omnium Group has signed a memorandum of understanding to acquire Faurecia SA’s vehicle bumper and front-end module business for €665 million ($734 million). The companies expect to complete the transaction sometime in 2016.
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Plastic Omnium Group has signed a memorandum of understanding to acquire Faurecia SA’s vehicle bumper and front-end module business for €665 million ($734 million). The companies expect to complete the transaction sometime in 2016.
The deal will push the French supplier’s annual revenue above €8 billion ($8.8 billion) from more than €6 billion this year to make it one of the world’s 25 largest auto suppliers.
The acquisition targets Faurecia’s Exterior Systems unit, which generates €2 billion in annual sales through 22 facilities in Europe and the Americas. Half the operation’s revenue comes from Germany, where Plastic Omnium currently has no capacity for such components.
The sale excludes Faurecia’s composites business and two joint ventures in Brazil and China, according to the companies.
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