FAURECIA TO SELL ITS “SAS” COCKPIT MODULES DIVISION TO THE MOTHERSON GROUP
20 Febbraio 2023 - 5:00PM
FAURECIA TO SELL ITS “SAS” COCKPIT MODULES DIVISION TO THE
MOTHERSON GROUP
NANTERRE (FRANCE)FEBRUARY 19,
2023
FAURECIA TO SELL ITS “SAS” COCKPIT
MODULES DIVISION TO THE MOTHERSON GROUP
Faurecia, a company of the FORVIA Group, has
received a firm and binding commitment from the Motherson Group to
acquire 100% of “SAS” Cockpit Modules division (“SAS”), a leading
global provider of assembly and logistics services for the
automotive industry, based on an enterprise value of €540 million.
Motherson is a diversified manufacturing specialist and one of the
world’s leading automotive Group. The transaction would complement
its Modules and Polymer Products portfolio.
Patrick Koller, CEO of Faurecia, declared: "We
have successfully developed and positioned SAS as one of the
leading global providers of assembly and logistics solutions for
the automotive industry. This strong market position is founded on
deep technical expertise and strong commitment of the teams. I am
convinced that this transaction would unlock additional value for
SAS. This would also allow FORVIA to focus on its core business
activities developing breakthrough technologies and would fulfill
our non-strategic asset divestment program of €1Bn by end-2023. By
reducing our consolidated net debt following the acquisition of
HELLA, we are delivering on our Power25 plan as announced during
our last Capital Markets Day in November 2022".
“SAS”, headquartered in Karlsruhe (Germany), was
established in 1996 as a joint venture between Sommer Allibert and
Siemens VDO. “SAS” generated total net sales of €896m in the
calendar year 2022 and has more than 5000 employees in over 24
locations in Europe, Asia, and America.
The project remains subject to information or
consultation with employee representatives. Completion of the
envisaged transaction will be subject to customary regulatory
approvals and would be expected mid-2023.
- 20230219 FAURECIA TO SELL ITS SAS COCKPIT MODULES DIVISION TO
THE MOTHERSON GROUP
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