Plastic Omnium: buys one third of HBPO
(CercleFinance.com) - Plastic Omnium has announced that it has completed the acquisition of Hella's 33.
33% stake in HBPO.
The stake, which cost 290 million euros, financed entirely from the Group's own funds.
Full ownership of HBPO matches Plastic Omnium's strategy to increase the value added per vehicle by developing new modules and systems while taking advantage of the growing demand for electric vehicles, the group says.
Since 2018, Plastic Omnium has held 66.66% of its share capital and HBPO has been fully consolidated.
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