FORVIA’s divestment strategy reflects its ambition to emerge as a technology focused enterprise
The combined entity aims to streamline core product lines to reflect the automotive industry’s high-pace transformation enabling suppliers to focus on core areas of expertise
On 29 July, HELLA announced the divestment of 33.33% stake of integrated front end modules company Hella Behr Plastic Omnium (HBPO) GmbH to France-based Plastic Omnium for an equity value of EUR290 million (USD306.70 million). The transaction enables Plastic Omnium with complete ownership. The divestment is part of HELLA’s strategy to align its resources in the development of high growth business segments underlining FORVIA’s combined businesses which, aim to become a major technology-focused company in the areas of electronics, lighting, seating, interiors, and clean mobility, which will each exceed USD3 billion in sales, according to the group.