PLASTIVALOIRE
Sites acquired from Key Plastics merged with Bourbon / New automotive supplier with sales of EUR 424m
On 16 December 2010 injection moulder Plastiques du Val de Loire (Plastivaloire, Langeais / France; www.plastivaloire.com) announced that it was merging the four sites it had acquired from Key Plastics France (Bellême / France) in mid-2009 with competitor Bourbon (Sain Lupicin; www.bourbon.fr) – for most recent coverage, see Plasteurope.com of 23.09.2010. This is presumably part of Plastivaloire’s effort to position itself as a tier 1 supplier.
At the same time, Plastivaloire is acquiring 65% of the newly created entity Bourbon Automotive Plastics, while the “Fonds de modernisation des équipementiers automobiles” (FMEA), the French fund established to support the automotive supply sector, is taking a 31% stake. Previous managing partner Claude Bourbon will hold 4%. The move will not affect Plastivaloire’s shareholder structure. In acquiring their stakes, Plastivaloire and FMEA are injecting EUR 13m in fresh capital into the new Bourbon Automotive Plastics.
Plastivaloire expects the new entity to report sales of around EUR 220m in the 2010/2011 financial year. Plastivaloire’s own automotive activities, which remain part of the parent company, will add a further EUR 55m, bringing total sales of the group’s automotive operations to around EUR 275m. Pro forma sales of the combined group were EUR 424m in 2009/2010 (to 30 September 2010)
Bourbon, which is focused exclusively on the automotive sector, has 2,000 employees at 10 facilities in Europe, 7 of which are in France. The remaining 3 are in the UK, Portugal and the Slovak Republic. The company’s debt amounts to EUR 42m and capacity is not fully utilised, partly due to an expansion shortly before the crisis. Bourbon’s provisional sales figures for 2009/2010 (to 30 September) were EUR 204m.
The acquisition of Bourbon is an ambitious move – but not the last to be expected from Plastivaloire. In the coming year, the focus will be on leveraging synergies in the automotive sector, but CEO Patrick Findeling and the family shareholders are planning further acquisitions and alliances with FMEA’s support, principally to strengthen collaboration with German car producers.
At the same time, Plastivaloire is acquiring 65% of the newly created entity Bourbon Automotive Plastics, while the “Fonds de modernisation des équipementiers automobiles” (FMEA), the French fund established to support the automotive supply sector, is taking a 31% stake. Previous managing partner Claude Bourbon will hold 4%. The move will not affect Plastivaloire’s shareholder structure. In acquiring their stakes, Plastivaloire and FMEA are injecting EUR 13m in fresh capital into the new Bourbon Automotive Plastics.
Plastivaloire expects the new entity to report sales of around EUR 220m in the 2010/2011 financial year. Plastivaloire’s own automotive activities, which remain part of the parent company, will add a further EUR 55m, bringing total sales of the group’s automotive operations to around EUR 275m. Pro forma sales of the combined group were EUR 424m in 2009/2010 (to 30 September 2010)
Bourbon, which is focused exclusively on the automotive sector, has 2,000 employees at 10 facilities in Europe, 7 of which are in France. The remaining 3 are in the UK, Portugal and the Slovak Republic. The company’s debt amounts to EUR 42m and capacity is not fully utilised, partly due to an expansion shortly before the crisis. Bourbon’s provisional sales figures for 2009/2010 (to 30 September) were EUR 204m.
The acquisition of Bourbon is an ambitious move – but not the last to be expected from Plastivaloire. In the coming year, the focus will be on leveraging synergies in the automotive sector, but CEO Patrick Findeling and the family shareholders are planning further acquisitions and alliances with FMEA’s support, principally to strengthen collaboration with German car producers.
23.12.2010 Plasteurope.com [218137-0]
Published on 23.12.2010
German version of this article...