Delphi has completed acquisition of FCI Group’s motorised vehicles division, a global manufacturer of automotive connection systems.
The transaction was valued at EUR765m (US$990m) on a cash and debt-free basis and Delphi expects it to add $0.24 to its 2013 earnings per share, excluding integration and other acquisition-related costs.
It said it was “highly confident” it could achieve “pre-tax synergies” of $80m by 2015.
“We are excited to complete the acquisition of MVL. We have strengthened our market leadership in the global automotive connector industry and positioned Delphi to further benefit from the growing electronics and safety content in motor vehicles,” said CEO/president Rodney O’Neal.
“The combined connector businesses will deliver significant revenue and operating synergies and accelerate our sales and earnings growth.”