Business NEWS

Peugeot Citroen and and One Equity Partners- French car parts maker Faurecia to Buy EMCON

By Hendrik L Clarke for CEOWORLD Magazine Updated:November 2, 2009

Faurecia SA (EO.FR) (EPED.PA), majority owned by auto giant Peugeot Citroen (UG.FR) (PEUP.PA) , has signed an agreement to acquire EMCON Technologies (originally Arvin Industries), an integrator of emissions control technologies for passenger and commercial vehicles. Based in Troy (Michigan, USA), EMCON Technologies posted 2008 sales of 2.4 billion euros and employs 6,000 people in 19 countries. Once the deal is completed, EMCON Technologies will immediately join Faurecia’s Exhaust Systems to form Faurecia Emissions Control Technologies, the new world leader on this market.

With this acquisition, Faurecia Emissions Control Technologies:

becomes the world leader in emissions control technologies;
boasts a reinforced Research & Innovation potential in new technologies for emissions reduction;
enters the commercial and off-road vehicles market;
broadens its customer base and reinforces its geographical presence.

The development of clean vehicles requires the control and drastic reduction of emissions, a reduction in fuel consumption and lighter vehicles. The new technologies developed by the automotive industry as an answer to these objectives will reinforce the technology and product content, systems and processes, leading to a strong market growth.

The total 2020 market is estimated at 65 billion euros versus 29 billion euros in 2008 for passenger vehicles, experiencing 7% growth per year. The total commercial vehicles market, also growing at 7% per year, is expected to reach 16 billion euros in 2020 (vs. 7 billion euros in 2008).

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