European Plastics News, a Crain publication
Nanterre, France -- Automotive supplier Faurecia SA says it is strengthening its expertise in interior systems technology by acquiring Germany-based Angell-Demmel Europe GmbH, a specialist in the development and production of metallic trim components.
Angell-Demmel is based in Lindau, Germany, and has two manufacturingoperations. The company posted sales of Euro 55 million ($71.4 million) for the firstnine months of 2010, and supplies German car makers such as Audi, BMW,Daimler, Porsche and Volkswagen.
Nanterre-based Faurecia says that once the deal is completed, Angell-Demmel will become part of the Faurecia Interior Systems division.
Cash-out for the acquisition amounts to about Euro 12 million, depending on adjustments made at the closing of the deal.
In a statement, Faurecia CEO Yann Delabriere said: "This new consolidation deal is a perfect fit to complement the activity of Faurecia Interior Systems. It will be better positioned to supply its customers with the most advanced decorative trims expected to enhance premium attributes and perceived quality."