M&A Activity • Feb 3, 2010
M&A Activity
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Nanterre, February 3, 2010
Faurecia has signed today an agreement to acquire the German activities of Plastal – a leading supplier of plastic exterior parts for the automotive industry. Once the deal is completed, Plastal Germany will join the Faurecia Automotive Exteriors business group, to become the new European leader for automotive exterior parts.
Based in Weissenburg (Germany), Plastal posted 2009 sales of EUR 408 million with nine car manufacturers. It employs 2,000 people at six industrial sites and one R&D center in Germany.
With this acquisition of Plastal Germany, Faurecia Automotive Exteriors:
The cash-out for the acquisition of Plastal's industrial assets (including real estate to be acquired from third parties) and customer contracts –subject to obtaining approval of the European anti-trust authorities– is comprised between EUR 23 and 33 million, depending on adjustment mechanisms to be decided upon closing of the deal.
Yann Delabrière, Chairman and Chief Executive Officer of Faurecia, stated: "Like the acquisition of EMCON Technologies for emissions control technologies, this new consolidation deal ideally complements the activity of Faurecia Automotive Exteriors, which is now the European leader on its market. It will be best positioned to supply its customers with the best solutions in terms of safety, perceived quality and vehicle weight reduction; which represent a major challenge for tomorrow's vehicles. This acquisition is accretive on the operational margin as early as 2010. It takes place at a very reasonable cost and with no significant increase of Faurecia's debt."
Faurecia is one of the world's leading automotive equipment suppliers, specializing in four major activities: automotive seating, emissions control technologies, interior systems and automotive exteriors. In 2008, the Group posted sales of 12 billion euros. It has operations in 29 countries at 190 sites and 28 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange. For more information, visit: www.faurecia.com
Contacts: Media
Olivier Le Friec Press Relations Manager Tel: +33 (0)1 72 36 72 58 Mob: +33 (0)6 76 87 30 17 [email protected] Analysts/Investors Florent Couvreur Analyst & Investor Relations Tel: +33 (0)1 72 36 75 70 Mob: +33 (0)6 61 48 29 64 [email protected]
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