Plastic Omnium SA reached a deal to purchase AMS-Osram AG’s automotive-lighting enterprise for 65 million euros ($72 million), a transfer geared toward supporting the French agency’s push into new market segments.
The businesses stated the transaction is predicted to close in the third quarter of 2022 and did not remark additional on integration plans, based on a press release Friday. Bloomberg Information reported earlier that the businesses had been in late stage talks over a deal.
“The acquisition of AMLS is a novel alternative to take an vital step into the rising progressive lighting methods section,” Laurent Favre, Plastic Omnium’s chief govt officer stated.
The automotive lighting enterprise was as soon as a part of Osram Licht AG, acquired by AMS in 2020. Bloomberg Information reported on the time that AMS, a key provider of face-recognition expertise to Apple Inc., was making ready a sale of the automotive unit that makes headlamps and methods forcarmakers.
Plastic Omnium manufactures automotive physique modules and gasoline methods. It was one of many suitors for German car components provider Hella GmbH final 12 months. Hella was ultimately acquired by French group Faurecia SE in a 6.eight billion-euro deal.
Based mostly in Levallois, France, Plastic Omnium ranks No. 25 on the Automotive Information listing of the highest 100 international suppliers with worldwide gross sales to automakers of $9.5 billion in 2020.