As the transformation of mobility intensifies and the automotive market is at a cyclical low, Plastic Omnium is transforming itself by sharpening up its organization and innovation strategy and diversifying its business activities.
How is Plastic Omnium adapting to the automotive market’s new realities?
In the face of a constant stream of disruptive technologies and a market slowdown after 10 years of growth, the Group needed to take a hard look at itself to prepare for the years ahead. We are using two levers simultaneously: internal transformation via our OMEGA program, and diversifying our activities. The Group is determined to diversify so it can meet demands for mobility that is clean, connected and offering new services. For example, in an effort to accelerate the development of safer self-driving vehicles, Plastic Omnium has teamed up with Greenerwave, an expert in electromagnetic waves, to develop the first 4D radar on the market. Plastic Omnium is a pioneer in hydrogen mobility and, with the creation of its New Energies division, is moving into new territory and clearly signposting its determination to achieve growth.
This effort to accelerate our diversification means we need additional skillsets in fields such as data processing, software and materials.
How would you sum up the aims of the OMEGA transformation program?
OMEGA is an overarching project designed to completely change how we work. It’s a program that pushes us to maximize synergies, boost efficiency and deliver economies of scale. We’re taking a fresh look at our processes, tools and organizational structure to identify how we can improve our working methods and become more efficient at every level. We have set out a sequence of win-win targets for the Group and each business line to manage our efforts and achieve quick results. We’re also launching FIT, a finance and IT project designed to ensure we are running the best-in-class finance and IT systems so that we can prepare for the future, unleash the full power of data and digital, help our teams to concentrate on value-added activities, roll out rapid solutions and reap benefits over the longer term. OMEGA works for the collective good, harnessing energies and opening minds.
