Cummins Emission Solutions has completed its acquisition of two Faurecia commercial vehicle manufacturing plants including the plant in Columbus in an estimated $211 million dollar deal with the Forvia Group.
The company announced this morning, that the deal, first outlined in May, has been finished. Vice President of Cummins Emission Solutions Cary Chenanda said that the deal will allow Cummins to continue to have “access to the technology and facilities it needs to meet current and future demand for low-emissions products and to ensure continuity for both the employees and customers…”
The deal also includes a plant in the Netherlands. Cummins is paying for the 199 million Euros deal with cash on its balance sheet. Cummins says the company is committed to honoring Faurecia’s existing supplier and customer contracts in both facilities.
Faurecia and Cummins have been partners since 2010. Faurecia remains a supplier to Cummins in India, China, South Africa and South America.
The transaction still needs approval from regulators in the U.S., Germany and the Netherlands but is expected to be finalized by the end of the year.
You can find more information here: https://investor.cummins.com/news/detail/623/cummins-acquires-portions-of-faurecias-commercial