This division, which primarily produces bumpers and front-end modules, will be sold to Compagnie Plastic Omnium for an enterprise value of €665m during the course of 2016. The division showed sales of €2bn in 2014 and an EBIT of €54m. Faurecia will initially repay net debt but intends to eventually invest the proceeds in value-added technologies of its other three divisions.
15 Dec 2015
Exteriors, the least profitable division, is to be sold
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Exteriors, the least profitable division, is to be sold
Forvia SE (FRVIA:PAR) | 0 0 (-1.4%) | Mkt Cap: 9,624m
- Published:
15 Dec 2015 -
Author:
Hans-Peter Wodniok -
Pages:
2
This division, which primarily produces bumpers and front-end modules, will be sold to Compagnie Plastic Omnium for an enterprise value of €665m during the course of 2016. The division showed sales of €2bn in 2014 and an EBIT of €54m. Faurecia will initially repay net debt but intends to eventually invest the proceeds in value-added technologies of its other three divisions.