Plastic Omnium (PO, Levallois / France; www.plasticomnium.com) has reached agreement in principle to acquire 50.1% of Inopart (Annonay / France), the holding company for composites specialist Inoplast (HQ: St. Desirat / France; www.inoplast.fr) from the Diaz family. The deal, still subject to regulatory approval, will increase PO´s indirect stake in Inoplast to 84% from 34% currently. The two companies already operate the joint venture Inoplastic Omnium (Lyon / France).

With 2,000 employees in France, Spain and Mexico and annual sales of EUR 230m in 2005, Inoplast is one of the three leading composites players worldwide. It specialises in design and manufacture of integrated automotive modules made of glass fibre-reinforced polyester composites (SMC/BMC, TRE and RUP) and is engaged to a lesser extent in the thermoplastics sector as a processor of PPE, ABS and ASA. Last year it completed a EUR 4m plant at Félines / France.

Plastic Omnium´s interest in widening its stake in Inoplast in part reflects plans to become more active in the Chinese market. Recently, Inoplast acquired the majority of China-based Xieno, now a 60:40 joint venture between that company and its long-time partner Xietong, with annual sales turnover of EUR 20m. Xieno employs 400 people at three Chinese locations, including Jang-Ying, Changchun and Quindao. Its main customer is Chinese truck manufacturer FAW. By 2009, sales are targeted to more than double to EUR 50m.