PLASTIC OMNIUM / SOLVAY
Plastic fuel tanks: Merger planned / Global market leader with sales of EUR 800m
The wave of concentration in the international automotive supply business is advancing at an enormous rate and gaining new dimensions all the time. The most recent example is the merger between the global activities of Plastic Omnium (HQ: Rue du Parc 1, F-92593 Levallois) and Solvay (HQ: B-1050 BrĂ¼ssel) in the field of plastic fuel tanks and plastic fuel systems for cars. A 50:50 joint venture is to be founded by June 2000. An official announcement states that the two companies have taken this step in order to further expand their global positions and development capacities. With sales of around EUR 800m, the new company would be world market leader in the field of plastic fuel tank systems. The company would have 30 production facilities with approximately 3,000 employees, mainly in Europe and the US.
31.01.2000 Plasteurope.com [17569]
Published on 31.01.2000