Forvia: sells several businesses to Cummins
(CercleFinance.com) - Forvia (Faurecia) has completed the sale of part of Forvia's commercial vehicle exhaust aftertreatment business in Europe and the US to Cummins.
The sale totals E199.2m.
As part of this transaction, Cummins acquired two plants located in Roermond (Netherlands) and Columbus South (Indiana, US).
Maangement said that this transfer is in line with Forvia's strategy to focus on ultra-low emission solutions for passenger cars, a segment in which it is a leader, and, with its hydrogen roadmap, through which the company offers a complete portfolio of hydrogen storage solutions.
This transaction concludes Forvia's E1bn asset disposal program.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The sale totals E199.2m.
As part of this transaction, Cummins acquired two plants located in Roermond (Netherlands) and Columbus South (Indiana, US).
Maangement said that this transfer is in line with Forvia's strategy to focus on ultra-low emission solutions for passenger cars, a segment in which it is a leader, and, with its hydrogen roadmap, through which the company offers a complete portfolio of hydrogen storage solutions.
This transaction concludes Forvia's E1bn asset disposal program.
Copyright (c) 2023 CercleFinance.com. All rights reserved.