Sogefi has sold its filtration plant in Cerdanyola, Spain, to Fragola International Group.
The transaction excludes After Market activities in Spain, which will remain within Sogefi’s perimeter.
The disposed activity had sales of EUR9m (US$11m) in 2020, with the enterprise value for the transaction estimated at around EUR1.4m.
“The sale of the Spanish filtration plant is part of Sogefi’s plan to rationalise its production footprint in Europe,” noted a Sogefi statement.
“For Fragola International Group, a company specialised in automotive technical parts and packaging, the acquisition provides a consolidation of its European footprint.