09/30/2010

www.gupta-verlag.de/rubber

Plastic Omnium acquires Solvay's shares in Inergy Automotive Systems

Solvay received EUR 270 million in cash for the shares. For the company the deal represents a value of about EUR 330 million when taking into account the assumption of liabilities for about EUR 60 million. Inergy Automotive Systems is a supplier of integrated fuel tank systems. The joint venture employs approximately 4,000 people worldwide and operates 24 manufacturing facilities in 18 countries. Its sales amounted to about EUR 900 million in 2009. According to Solvay, it will now concentrate its efforts in automotive applications on developing added value speciality polymers, e. g. for the replacement of heavier materials and thus to save fuel and reduce emissions.

Plastic Omnium is a leader in automotive components and modules. The group employs about 14,000 people in 94 plants and 27 countries worldwide and booked sales of EUR 2.5 billion in 2009.
Solvay is headquartered in Brussels and employs about 19,000 people in 50 countries. In 2009, its sales amounted to EUR 8.5 billion.

www.gupta-verlag.de/rubber