LEVALLOIS, France--(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).