Plastic Omnium, yesterday, executed the sale and purchase agreement for the acquisition of Faurecia's Exterior Systems' business and the procedures with the employee representatives were completed. The transaction must now be submitted to the European Commission and other relevant competition authorities. The deal should be finalised in the second half of 2016.
Significance: Faurecia's Exterior Systems activity includes bumpers and front end modules. It has 22 industrial sites in Germany, France, Spain, Slovakia and both North and South America. Fifty percent of revenue is made in Germany where Plastic Omnium does not currently have a bumper site. The acquisition will therefore have a positive impact on Plastic Omnium's global footprint.
