Plastic Omnium invests $300 million in the United States
After the new plants in Chattanooga (Tennessee for Volkswagen) and Fairfax (Kansas for General Motors), Plastic Omnium launches the construction of two additional plants in the United States.
The Greer (South Carolina) plant under construction is intended to deliver all large exterior painted body parts for the BMW X3, X4, X5, X6 and future models at the BMW plant adjacent to Plastic Omnium; it will also supply Volvo in South Carolina and Daimler in Alabama.
Moreover, Plastic Omnium will produce, in its new Tennessee plant, fuel systems for a Japanese car maker.
These two state-of-the-art plants will come on stream mid-2018.
In total over 3 years, Plastic Omnium will have invested $300 million in the construction of 4 new plants in the United States, which will employ nearly 1,000 people.
2016: a record and structuring year
2016 was an exceptional year.
Firstly from a financial perspective, Plastic Omnium has set new records with double-digit growth seen repeatedly in all the group's financial aggregates.
From a strategic perspective, Plastic Omnium closed the most important acquisition in its history by integrating the Faurecia Exterior Systems business. This large-scale operation has given the Group a new dimension - 2016 pro forma revenue of €7.5 billion - and provided leverage to grow both its customer portfolio and technological potential. Furthermore, Plastic Omnium has sold off a number of non-strategic activities in order to focus on its core businesses, namely the automotive industry and the environment.
Plastic Omnium received a binding offer for the sale of certain Faurecia Auto Exterior’s assets concerned by the decision of the European Commission
In accordance with the European Commission's decision to require Plastic Omnium to divest certain assets included in the recent acquisition of Faurecia Auto Exterior, the Group received a binding offer from US-Based Flex|N|Gate Group to acquire the 7 affected sites (4 in France, 1 in Spain and 2 in Germany), for an enterprise value of 200 million euros. On the basis of such offer, the Group has agreed to enter into exclusive discussions with Flex|N|Gate.
On July 11, 2016, Plastic Omnium was authorized to acquire Faurecia's Exterior Systems business subject to the disposal of certain assets. These assets represent approximately €700 million in revenue, split evenly between (1) the French and Spanish sites for the bumper business, and (2) the front-end module assembly business in Germany.Read more Send by email
Disposal project of the heavy duty truck business
Following the Plastic Omnium project to withdraw from its heavy duty truck business, the Group received on November 18, 2016 a binding offer from the German mutares Group for its acquisition.
This business of design and manufacture of body and structural parts for the heavy duty truck industry has more than 1,500 employees. In 2015 its revenue amounted to €190 million and represented about 2% of the Group's pro forma revenue.