UPDATE 1-Faurecia to buy Plastal German assets

* Deal to be worth between 22 mln and 33 mln euros

* Plastal German assets to join auto exteriors business unit

* Deal will be accretive to op margin as early as 2010 – CEO

(Adds details from statement)

PARIS, Feb 3 (BestGrowthStock) – French automotive supplier Faurecia
(EPED.PA: ) is to buy the German assets of parts manufacturer
Plastal to boost its presence in Europe’s biggest auto market.

The deal would cost between 22 million and 33 million euros
($31-46 million), depending on adjustment mechanisms to be
decided when the transaction closes, Faurecia said.
Beleaguered carmakers, along with their even more vulnerable
suppliers, have embarked on a phase of consolidation as the
industry has been hit by a profound crisis in recent months.

Faurecia said its acquisition of Plastal Germany — with six
industrial sites and a research centre — would boost its
industrial footprint and research and development capacity in
Germany, an important market for the group.

The deal puts Faurecia, which is majority owned by French
carmaker PSA Peugeot Citroen (PEUP.PA: ), in a leading position in
Europe in the automotive exteriors sector.

“This acquisition is accretive on the operational margin as
early as 2010. It takes place at a very reasonable cost and with
no significant increase of Faurecia’s debt,” Faurecia Chief
Executive Yann Delabriere said in a statement.

The acquisition would also strengthen its ties with major
carmakers customers such as Ford (F.N: ), Audi (VOWG_p.DE: ),
Daimler (DAIGn.DE: ), BMW (BMWG.DE: ) and Porsche (PSHG_p.DE: ), the
French company added.
($1=.7137 Euro)

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(Reporting by Helen Massy-Beresford, editing by Will Waterman)

UPDATE 1-Faurecia to buy Plastal German assets