(News Bulletin 247) – Faurecia, a Forvia group company, announces that it is entering into exclusive negotiations with Cummins regarding the potential sale of part of its exhaust gas after-treatment business for commercial vehicles in Europe and the United States. United for an enterprise value of 150 million euros.
This project would include two production plants located in Roermond in the Netherlands and in Columbus, Indiana, in the United States.
A Faurecia partner since 2010, Cummins produces engines for trucks and construction machinery as well as components, including exhaust gas after-treatment systems.
Faurecia’s ‘clean mobility’ activities in the field of exhaust and after-treatment for commercial vehicles, mainly in China and India, will continue.
This potential transaction would contribute to the implementation of Forvia’s strategy, which tends to focus on its activities related to ultra-low emissions for light vehicles.
Patrick Koller, Chief Executive Officer of Faurecia, said: ‘This sale would mark an important step in Forvia’s asset disposal program set at €1 billion by the end of 2023. With this transaction the exposure to the thermal engine of the group will tend towards 10% in 2025’.
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