LEVALLOIS, France--(BUSINESS WIRE)--Regulatory News:
Today, Plastic Omnium (Paris:POM) finalized the sale of seven European sites (four in France, one in Spain, two in Germany) to US-Based Flex|N|Gate Group. This disposal was required by the European Commission as part of the takeover of Faurecia Auto Exterior in July 2016. As previously announced, the deal was made for an enterprise value of €200 million.
The integration process of the scope retained by Plastic Omnium, which amounts to €1 billion in revenue, is proceeding on schedule, and its profitability improvement target has been confirmed.
This strategic acquisition will help Plastic Omnium solidify its position as the world leader in auto exterior systems with a 15% global market share, bolster its position in Germany, forge sales relationships with new customers and increase its innovation capacity.
In 2016, the Group generated proforma economic sales of €7.5 billion. Ranked as the 29th largest supplier in the world, it now employs 33,000 people in 128 plants, 23 R&D centers and 31 countries around the world.
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 and its joint ventures employ nearly 33,000 people in 128 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).