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Plastic Omnium is strengthening its position as world leader of front-end modules
On March 1st, 2018, Compagnie Plastic Omnium signed an agreement with the German group Mahle to acquire its 33.33% shareholding in the HBPO joint venture, up to then held equally by Plastic Omnium, Hella and Mahle-Behr.
This acquisition was made at an enterprise value of €350 million and will be financed by the group's own resources.
After this transaction, Plastic Omnium will hold 66.66% of HBPO and Hella 33.33%.
2017 Results commented by Jean-Michel Szczerba, Co-Chief Executive Officer, Plastic Omnium (Only FR)
2017: Strong growth and record results
Plastic Omnium once again achieved a record year.
In 2017, we outperformed the global automotive market by nine points and posted growth across all operating regions. We successfully consolidated the businesses acquired in 2016 and continued to improve our industrial performance.
With our financial solidity and confidence in our capacity to continue to develop our activities and increase our profitability, we are stepping up our innovation program in order to address the challenges of tomorrow's carbon-free, connected and autonomous cars. We are investing in new research centers, developing and acquiring new technologies, and training and recruiting tomorrow's skills.
Our success remains underpinned by our industrial excellence and total quality for our customers.
In a mixed global environment, we are enthusiastic as we move into 2018 with the outlook of a further improvement in results.
Novelty
The Group launches the "Plastic Omnium" application available on smartphones and tablets.
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Discover Plastic Omnium's latest innovations at NAIAS Detroit Auto Show 2018: smart bumpers and tailgates
Plastic Omnium is presenting its latest innovations: more intelligent bumpers, lighter and more reactive tailgates,
illustrating its innovation strategy for a safer, cleaner and connected car.
