This agreement remains submitted to the approval of the Polish antitrust authorities. The two plants to be acquired, at Gliwice and Poznan, have had a turnover of more than €60 million in 2010.
They essentially supply Fiat, Volkswagen, BMW, Audi and Ford. They employ 600 persons.
This acquisition enables POAE to reinforce its industrial footprint in Eastern Europe, which already includes plants in Poland, the Czech Republic and Slovakia, delivering Volkswagen, Audi, Porsche, Skoda, PSA Peugeot Citroën and General Motors. It reflects the commercial success of Plastic Omnium in this region, especially for high volume cars being currently launched as the brand new VW Up! and Opel Astra.
This purchase is in line with Plastic Omnium Group’s strategy to proceed to focused acquisitions in strongly growing regions. This strategy will be pursued.