- Strengthening the Automotive & Mobility segment
- Leading supplier of plastic exterior trim parts for the automotive industry
- Three exteriors plants with revenues of approx. EUR 360 million
Munich, 18 May 2021 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire three exteriors plants from Magna. The plants produce plastic components such as bumper and exterior trim, radiator grilles and other trim components for leading OEMs in the premium segment. The closing of the transaction and the rebranding of the company are expected in the third quarter of 2021.
The acquisition comprises three Magna sites in Germany: Obertshausen, Sulzbach and Idar-Oberstein. Obertshausen has two additional satellite sites at Neckarsulm and Klein-Krotzenburg that are also part of the transaction. The three exteriors plants employ around 1,700 employees and generate revenues of approximately EUR 360 million, with the main customers being well-known German automotive manufacturers. The three plants have extensive design expertise and include sophisticated in-house engineering.
“The acquisition of the three exteriors plants is a great win for us. We are confident that the business is well positioned to benefit from several strategic growth initiatives in the future. It will benefit especially from automotive megatrends of fuel efficiency and demand for increasingly lightweight exterior plastics from OEMs. We therefore see great potential for the business as part of our portfolio,” comments Johannes Laumann, CIO of Mutares.