Faurecia: takes over Swiss group Hug Engineering
(CercleFinance.com) - Faurecia has announced an agreement for the acquisition, from the German group ElringKlinger, of 100% of Hug Engineering, a Swiss company offering complete purification systems of exhaust gas for engines of over 750 HP.
The market for the purification of emissions for these very large engines is expected to be worth 2.4 billion euros in 2025, when regulations entering into force will cover over 75% of the market, compared to just 25% today.
Subject to obtaining the green light from supervisory authorities of concentrations in certain European jurisdictions, the transaction - the financial terms of which were not specified - should be finalised in the first quarter of 2018.
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