Faurecia has signed an agreement to acquire tier one supplier Plastal Spain which makes exterior parts for the automotive industry.
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This new acquisition adds to that of Plastal Germany finalised last March and “enables Faurecia Automotive Exteriors to complement its European industrial footprint and consolidate its leading position on the market,” Faurecia said in a statement.
The deal secures production for Spanish customers including Ford, Seat, Volkswagen and Iveco.
Plastal has four Spanish plants in Barcelona, Tudela, Valencia and Valladolid with 700 employees. In 2009, Plastal Spain delivered 1.2m bumpers and generated sales of EUR 135m.
Faurecia CEO Yann Delabrière said: “This acquisition is in line with Faurecia’s consolidation strategy: it reinforces the leadership of our automotive exteriors activity, it is carried out with the support of our customers and is aligned with the group’s financial objectives”.
European and Spanish anti-trust authorities approval is required for the deal whose value was not disclosed.
