Corporate / 19/04/2016
Signature of definitive agreement for divestiture of Faurecia Automotive Exteriors business to Plastic Omnium
The transaction concerns the bumpers and front end modules business of Faurecia which had sales of €2 billion in 2015 and employs 7,700 people in 22 sites. The Entreprise Value of the transaction is € 665 million.
The appropriate filings will now be made by Plastic Omnium with the relevant antitrust authorities and the transaction is due to close during 2016.
This sale, combined with the early redemption by Faurecia of its convertible bond that was completed in January 2016, will almost completely eliminate Faurecia’s debt. The group will thus be able to accelerate investment in value-added technologies for sustainable mobility and enhanced life on board. The composite business of Faurecia is an integral part of its technology strategy for lightweight solutions and is thus not included in the deal with Plastic Omnium.
Technology, Corporate / 29/08/2016From August 29 to September 2, in Busan (South Korea), Faurecia will be a priviledged partner of both the International Union of Air Pollution Prevention Associations’ (IUAPPA) World Clean Air Congress and NGO Clean Air Asia’s Better Air Quality Conference.+
Corporate / 25/08/2016For the first time ever, Faurecia partnered the 2016 Formula Student Germany competition, which took place from August 9th to 14th in Hockenheim. To take part in the international competition, teams of engineering students from all around the world had to design a single-seater car, then manufacture and race a ready-to-drive prototype.+