Plastic Omnium: €200 Million Sale to Flex|N|Gate of Part of the Business Purchased from Faurecia is Confirmed
March 31 2017 - 11:47AM
Business Wire
Regulatory News:
Today, Plastic Omnium (Paris:POM) finalized the sale of seven
European sites (four in France, one in Spain, two in Germany) to
US-Based Flex|N|Gate Group. This disposal was required by the
European Commission as part of the takeover of Faurecia Auto
Exterior in July 2016. As previously announced, the deal was made
for an enterprise value of €200 million.
The integration process of the scope retained by Plastic Omnium,
which amounts to €1 billion in revenue, is proceeding on schedule,
and its profitability improvement target has been confirmed.
This strategic acquisition will help Plastic Omnium solidify its
position as the world leader in auto exterior systems with a 15%
global market share, bolster its position in Germany, forge sales
relationships with new customers and increase its innovation
capacity.
In 2016, the Group generated proforma economic sales of €7.5
billion. Ranked as the 29th largest supplier in the world, it now
employs 33,000 people in 128 plants, 23 R&D centers and 31
countries around the world.
Plastic Omnium is the world leader in automotive exterior
components and modules, automotive fuel systems, and waste
container solutions for local authorities and companies. The Group
and its joint ventures employ nearly 33,000 people in 128 plants,
23 R&D Centers and 31 countries worldwide. Plastic Omnium is
listed on Euronext Paris, compartment A. It is eligible for the
Deferred Settlement Service (SRD) and is part of the SBF 120 and
CAC Mid 60 indices (ISIN code: FR0000124570).
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Plastic OmniumFinancial informationTel.: +33 (0)1 40 87
66 78Fax: +33 (0)1 40 87 96
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