| 7:53 AM EST

Faurecia to Buy Out Conti in JV

Faurecia SA has agreed to acquire Continental AG’s 50% stake in SAS Autosystemtechnik Verwaltungs GmbH and take full control of the interior modules joint venture.
#Skoda #Faurecia #europe

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

Faurecia SA has agreed to acquire Continental AG’s 50% stake in SAS Autosystemtechnik Verwaltungs GmbH and take full control of the interior modules joint venture.

The 225 million ($248 million) deal is expected to close early next year. SAS will be folded into Faurecia’s Interiors Business Group when the purchase is completed.

Karlsruhe, Germany-based SAS, which was formed in 1996, is expected to post sales of 700 million ($772 million) this year. The company employs 4,500 people in 19 facilities in Europe and the Americas.

Faurecia says the acquisition will expand its capabilities to cover all interior modules and support new product lines such as displays, electronics, sensors and thermal management. Among SAS customers are Audi, FCA, Ford, Tesla, Mercedes, Porsche, PSA, Renault, Skoda, SEAT, Tesla and Volkswagen.

RELATED CONTENT

  • Designing the 2019 Ram 1500

    Ram Truck chief exterior designer Joe Dehner talks about how they’ve developed the all-new pickup. “We’ve been building trucks for over 100 years,” he says. “Best I could come up with is that this is our 15th-generation truck.”  

  • Ford Makes an Astounding Achievement

    Ford has made an accomplishment that will never be bested, never even be tied.

  • 2016 Prius: The Fourth Generation

    The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).