Regulatory Filings • Jun 17, 2010
Regulatory Filings
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Paris – 17 June 2010
Plastic Omnium announces today its intention to acquire Solvay's 50% stake in Inergy Automotive Systems and therefore take full ownership of the Company. Plastic Omnium and Solvay have signed a non-binding memorandum of understanding in this regard.
Inergy Automotive Systems, an equal share joint venture of Plastic Omnium and Solvay, is the world's number one supplier of integrated fuel tank systems. The joint venture employs approximately 4,000 people worldwide and operates 24 manufacturing facilities in 18 countries. Its sales should reach 1.1 billion EUR in 2010.
Both companies are expecting to reach an agreement in the coming months, which will be subject to the usual antitrust authorizations and following employee consultations.
By acquiring a controlling interest in Inergy Automotive Systems, Plastic Omnium would strengthen its position as a key player in reducing automobile emissions. Its product portfolio currently includes emissions-control systems manufactured by Inergy Automotive Systems and solutions to make vehicles lighter produced by Plastic Omnium Auto Exterior, a world leader in automobile body components and modules.
The Company would also increase its capacity for development in a global automobile market that is experiencing rapid growth, especially in China, India and South America
Investor Relations Tel: +33 (0)1 40 87 64 49 / Fax: +33 (0)1 40 87 96 62 / Email: [email protected] www.plasticomnium.com
Plastic Omnium is a world leader in automotive components and modules, and a major European player in products and services for local communities. The Group employs about 14,000 people in 94 plants and 27 countries worldwide and booked sales of 2.5 billion EUR in 2009. Plastic Omnium is listed on the Euronext Paris stock market, Compartment B, and is included in the SRD long-only, in the SBF 250 and CAC Mid 100 indexes (ISIN code: FR0000124570). Details are available at www.plasticomnium.com.
SOLVAY is an international industrial Group active in Chemistry. It offers a broad range of products and solutions that contribute to improving quality of life. The Group is headquartered in Brussels and employs about 19,000 people in 50 countries. In 2009, its consolidated sales amounted to EUR 8.5 billion. Solvay is listed on the NYSE Euronext stock exchange in Brussels (NYSE Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR). Details are available at www.solvay.com.
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