Having obtained authorization from the relevant competition authorities, Plastic Omnium has completed the acquisition of the German Group, Mahle's 33.33% equity investment in the joint venture, HBPO, up to now held equally by Plastic Omnium, Hella and Mahle-Behr. Plastic Omnium now owns 66.66% of HBPO. This acquisition was signed for an enterprise value of €350M, financed from the Group's own resources.
HBPO is the world leader in the development, assembly and logistics of automotive front-end modules with 20% of worldwide market shares. With 6 million front-end modules delivered per year, HBPO generated revenue of €2 billion in 2017 in 26 plants across three continents (Europe, USA and Asia), and already has an order portfolio which will enable it to achieve €3 billion in 2021. HBPO's size and technological expertise will enable Plastic Omnium to speed up its development in smart and modular products and meet the technological challenges of tomorrow's autonomous and connected car, which will considerably modify automotive design and esthetics. The front-end module is a complex assembly at the front of the vehicle, which, from a technical front-end, includes the shock absorption beam, the lighting and engine cooling systems, the active radiator grille shutters and the driving assistance radars and sensors.
END