We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Speculating in Takeover Targets
ULBI 11.27-0.8%1:40 PM EDT

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: richardred who wrote (4286)11/19/2016 6:51:53 PM
From: richardred   of 7033
Germany's Mutares bids for Plastic Omnium's truck supply business.

German investment firm Mutares AG has made a binding offer to buy Cie. Plastic Omnium SA’s truck supplier business.

The business makes thermoplastic and thermoset body panels and structural parts, including Class A painted panels, in Europe, China and Mexico.

Terms of the deal were not disclosed. The deal is subject to regulatory approval and, in accordance with French law, the offer must be submitted to the works council for their position. Plastic Omnium said in a release that it expects the deal to be finalized in 2017.

The business consists of five plants in France, two in China and one each in Germany and Mexico. The plants employ more than 1,500, and generated 190 million euros in sales in 2015, according to the companies.

Products include exterior components and modules for truck cabins, and customers include major European truck manufacturers, according to the companies.

Munich-based Mutares said it will combine the business with its existing truck supplying business, including two plants recently acquired from Mecaplast Group, to create a global business with about 400 million euros in annual sales and 2,700 employees in 15 plants.

Mutares added that it expects “further add-on acquisitions” that will help it take a leading role in consolidating that market.

Plastic Omnium is focusing on body and structural auto components, following its recent acquisition of Faurecia SA’s automotive exteriors business.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext