Plastic Omnium: Disposal Project of the Heavy Duty Truck Business
November 18 2016 - 2:45AM
Business Wire
Regulatory News:
Following the Plastic Omnium (Paris:POM) project to withdraw
from its heavy duty truck business, the Group received on November
18, 2016 a binding offer from the German mutares Group for its
acquisition.
This business of design and manufacture of body and structural
parts for the heavy duty truck industry has more than 1,500
employees. In 2015 its revenue amounted to €190 million and
represented about 2% of the Group's pro forma revenue.
Thus, Plastic Omnium is focused on the design and manufacture of
body and structural components and modules for light vehicles; a
market in which the recent acquisition of Faurecia's Exterior
Systems business has strengthened its position as leader, with a
15% worldwide market share.
Plastic Omnium was committed to select a purchaser able to
develop ambitious offer and industrial project for the 9 sites
concerned (5 in France, 1 in Germany, 1 in Mexico and 2 in China).
Through its STS Acoustics subsidiary, leader in acoustics and
thermal management for the industry, the mutares Group aims to
become a leading player in the truck market in which it has other
external growth projects in different countries.
This proposed transaction must undergo the procedures relating
to the staff representation bodies in the countries concerned, and
then be submitted to the relevant Competition Authorities. It
should be finalized during 2017.
This disposal would have an accretive impact on the Group's
profitability.
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
has 32,000 employees across 130 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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