JEC Group have brought together the international community of composites leaders and executives in our Composites Circle as an unique networking opportunity to meet with both peers and future partners.
Professor and Architect Mark Goulthorpe, of the MIT Department of Architecture, confirmed as guest keynote speaker for the Future of Composites in Construction.
Compagnie Plastic Omnium signs a MOU (Memorandum of Understanding) with the Faurecia group to acquire its Exterior Systems business (bumpers and front-end modules) for an enterprise value of €665 million.
Faurecia’s Exterior Systems’ activity has €2 billion sales and employs 7,700 people in 22 industrial sites in Germany, France, Spain, Slovakia, North and South America. Half of the sales come from Germany where Plastic Omnium has no production site for this activity.
This acquisition will give a new dimension to Plastic Omnium and enable it to better serve its customers around the world. By its size, it significantly strengthens the portfolio and the technological potential of Plastic Omnium to meet environmental challenges for light-weighting and for the reduction of emissions from motor vehicles.
Plastic Omnium thus demonstrates its willingness to move closer to its major clients and assert its technological and innovative knowledge in order to provide an even more globalized offer to automakers.
With this French transaction of international dimension, Plastic Omnium emerges as a global player with over €8 billion of sales which places it among the 25 largest automotive suppliers worldwide. This operation maintains the historical approach of financial and industrial independence.
The transaction must be submitted to the competition authorities concerned as well as the legal requirements regarding employee representatives in the countries concerned. The transaction should be finalized in 2016.
This acquisition is possible thanks to the work done, particularly since the crisis of 2008-2009, which today allows Plastic Omnium to build on strong fundamentals within financial, commercial and industrial disciplines.
In the same time, Plastic Omnium is demonstrating its management capability which will facilitate the integration of Faurecia’s Exterior Systems’ team within the Plastic Omnium Auto Exterior Division.
More information: www.plasticomnium.com
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