Cummins is acquiring a share of Faurecia’s commercial vehicle exhaust aftertreatment business in Europe and the U.S.
Under the 142-million-Euro deal ($213 million Cdn), Cummins acquires related manufacturing plants in Roermond, the Netherlands, and Columbus, Ind., and will integrate them into its worldwide operations.
The deal leaves Faurecia to focus on ultra-low emissions systems for light vehicles and its hydrogen roadmap, Faurecia says. Activities in other regions including China and India will continue.
“The transfer of these plants and their activities to a trusted engine manufacturer is good news for the plants’ long term viability,” said Faurecia CEO Patrick Koller, noting that proceeds will contribute to its parent company’s billion-euro asset disposal program by the end of 2023.
The transaction is still subject to regulatory approvals, but is expected to be finalized before the end of the year, the company says.
Credit: Source link
