PARIS--(BUSINESS WIRE)--Regulatory News:
After the new plants in Chattanooga (Tennessee for Volkswagen) and
Fairfax (Kansas for General Motors), Plastic Omnium (Paris:POM) launches
the construction of two additional plants in the United States.
The Greer (South Carolina) plant under construction is intended to deliver all large exterior painted body parts for the BMW X3, X4, X5, X6 and future models at the BMW plant adjacent to Plastic Omnium; it will also supply Volvo in South Carolina and Daimler in Alabama.
Moreover, Plastic Omnium will produce, in its new Tennessee plant, fuel systems for a Japanese car maker.
These two state-of-the-art plants will come on stream mid-2018.
In total over 3 years, Plastic Omnium will have invested $300 million in the construction of 4 new plants in the United States, which will employ nearly 1,000 people.
These additional USA production capacities will support Plastic Omnium's market share gains in North America. They will allow the Company to increase revenue in the US, that are already the Group's first contributor with $1.4 billion generated in 2016.
Furthermore, the Greer plant will be Plastic Omnium's pilot “4.0 plant”, designed to improve still further the industrial processes, quality, robotization, standardization and competitiveness of these new plants.
The construction of these production units is part of the €2.5 billion investment program announced by the Group for the 2016-2020 period, to consolidate its position of world leader in its two automotive divisions - exterior equipment (15% global market share) and fuel systems (21% global market share).
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 33,000 employees across 128 plants, 23 R&D center s 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).