Edition:
India

Faurecia to buy the remaining 50% of its SAS JV with Continental


Monday, 14 Oct 2019 

Oct 14 (Reuters) - Faurecia ::TO ACQUIRE REMAINING 50% OF ITS SAS JOINT-VENTURE FROM CONTINENTAL <<>>..SAYS THIS WILL EXPAND SYSTEMS INTEGRATION OFFER TO COVER ALL INTERIOR MODULES..SALES IN UNIT ARE EXPECTED TO SHOW STRONG GROWTH IN 2019 AND SHOULD REACH AROUND EUR 700 MILLION..PROJECT WOULD BE IMMEDIATELY ACCRETIVE TO FAURECIA IN OPERATING MARGIN, NET INCOME AND ROCE..WITH AN ORDER BOOK SHOWING STRONG GROWTH POTENTIAL, SALES SHOULD EXCEED EUR 1 BILLION BY 2024 (REPRESENTING A CAGR OF AROUND 9%)..WOULD ACQUIRE THE 50% SHARE OF JOINT VENTURE FROM CONTINENTAL FOR EUR 225 MILLION ($248.13 MILLION)(EXCLUDING CASH)..CLOSING WOULD BE EXPECTED IN EARLY 2020..