(CercleFinance.com) – Michelin announces that it has completed the acquisition of Flex Composite Group, a leader in high-tech fabrics and films, in accordance with the terms communicated on June 19 and after obtaining all the authorizations required for this operation.
‘This acquisition is part of the Michelin in Motion 2030 plan and marks a significant step forward in the development of the group’s polymer composite activities,’ explains the tire giant.
With 400 employees, FCG achieved a turnover of 202 million euros in 2022. Over the period 2015-2022, the company achieved average organic growth of 11%, with an EBITDA margin of 25-30%.
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