(Boursier.com) — Plastic Omnium signed an agreement to purchase Hella’s 33.33% stake in HBPO GmbH, giving it full ownership of the world leader in complex modules.
This acquisition was signed for an amount of 290 million euros, entirely financed from the Group’s own resources.
The transaction is subject to regulatory approval, expected in Q4 2022.
Plastic Omnium will then own 100% of HBPO and will be able to develop new modules and systems taking advantage of new lighting capabilities in response to market transformation and customer expectations.
HBPO is a joint venture created in 2004 between Plastic Omnium, Hella and Behr. Plastic Omnium has held the majority of HBPO shares since 2018, when the Group increased its stake to 66.66% of the share capital, compared to 33.33% initially held. Since that date, HBPO has been fully consolidated in Plastic Omnium’s accounts.
The acquisition of the remaining shares of HBPO is part of Plastic Omnium’s strategy to increase value added per vehicle while taking advantage of the growing demand for electric vehicles. It will also create new development opportunities and strengthen Plastic Omnium’s exposure to German and high-end manufacturers. HBPO’s headquarters will remain in Lippdstat, where the management team is based.
Plastic Omnium recalls that HBPO assembles 1 front module out of 5 products worldwide, and achieved an economic turnover of 2.2 billion euros in 2021. With 2,800 employees spread over 31 factories in 11 countries on the American continents , European and Asian, HBPO assembles more than 5 million modules before each year.
The front module is a complex part located at the front of the vehicle which, from a technical point of view, integrates the impact absorption beam, the lighting and engine cooling systems, the active grille shutters as well as radars and driving assistance sensors.
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