Today, Plastic Omnium finalized the sale of seven European sites (four in France, one in Spain, two in Germany) to US-Based Flex|N|Gate Group. This disposal was required by the European Commission as part of the takeover of Faurecia Auto Exterior in July 2016. As previously announced, the deal was made for an enterprise value of €200 million.
The integration process of the scope retained by Plastic Omnium, which amounts to €1 billion in revenue, is proceeding on schedule, and its profitability improvement target has been confirmed.
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