Earnings Release • Jun 29, 2010
Earnings Release
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Nanterre, June 29, 2010
Faurecia has signed today an agreement to acquire Plastal Spain (Plastal S.A.), a Tier 1 supplier of plastic exterior parts for the automotive industry.
This new acquisition, which adds to that of Plastal Germany finalized last March, enables Faurecia Automotive Exteriors to complement its European industrial footprint and consolidate its leading position on the market. The deal allows securing the production of its customers, in particular Ford, SEAT, Volkswagen and IVECO, in the field of automotive exteriors.
Plastal S.A. is present in Spain with four plants located in Barcelona, Tudela, Valencia and Valladolid and which employ to date some 700 employees. In 2009, Plastal Spain delivered 1.2 million bumpers and generated sales of EUR 135 million.
Yann Delabrière, Chairman and Chief Executive Officer of Faurecia, stated: "This acquisition is in line with Faurecia's consolidation strategy: it reinforces the leadership of our Automotive Exteriors activity, it is carried out with the support of our customers and is aligned with the Group's financial objectives".
The acquisition of Plastal Spain is subject to obtaining approval of the European and Spanish anti-trust authorities. It has been agreed not to disclose financial details of the deal.
Faurecia is one of the world's leading (#6 worldwide) automotive equipment suppliers with four key Business Groups: Automotive Seating, Emissions Control Technologies, Interior Systems and Automotive Exteriors. In 2009, the Group posted pro-forma sales of 11.3 billion euros, including Emcon Technologies and Plastal Germany. It employs 62,000 people in 32 countries at 200 sites and 33 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange. For more information visit: www.faurecia.com
Press Olivier Le Friec Media Relations Manager Tel: +33 (0)1 72 36 72 58 Mob: +33 (0)6 76 87 30 17 [email protected]
Analysts/Investors Eric-Alain Michelis Vice President Investor Relations Tel: +33 (0)1 72 36 70 94 Mob: +33 (0) 6 64 64 61 29 [email protected]
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