Because it wants to concentrate on its core business of cooling modules for the automotive segment, car components supplier Mahle (Stuttgart / Germany; www.mahle.com) is to sell its one-third share in front-end module manufacturer HBPO (Lippstadt / Germany; www.hbpogroup.com). The buyer is Plastic Omnium (Levallois / France; www.plasticomnium.com), which is the third stakeholder alongside lighting technology and electronic products supplier, Hella (Lippstadt; www.hella.de). The two companies signed an agreement to that effect on 1 March 2018. The transaction, worth EUR 350m, is still subject to approval from the antitrust authorities, which is expected during the course of this year.

Mahle aims to use the proceeds to buy into fields of technology connected with electromobility. It does, however, want to continue the cooperation with HBPO and will carry on supplying the joint venture with cooling components. Exactly what will happen with HBPO, in which Plastic Omnium will then hold a two-thirds stake, is not yet clear. According to a spokesperson in France, relevant plans will be announced as soon as the transaction has been given the go-ahead. Hella wants to retain its one-third share.

Founded in 2004, HBPO is specialised in the development and production of front-end modules consisting of bumper, lighting system and cooling components. Its portfolio also includes centre consoles and active grille shutters – all containing a large proportion of plastics. With 2,200 employees in 26 production plants, the company manufactures around 6m front-end modules a year – equivalent to a world market share of some 20%. Turnover of the joint venture was most recently EUR 2 bn, and the aim is to raise this to EUR 3 bn by 2021. HBPO has laid the foundation stone for this growth with further plants in North America – see Plasteurope.com of 23.08.2017.