As announced last August, Faurecia has now completed the acquisition of German lighting and electronics specialist Hella. The two big players bow merged into the newly-created company Forvia, which is apparently the seventh largest automotive supplier. Forvia is expected to focus most of its activities on e-mobility, with Hella playing a primary role in battery and steering electronics, whilst Faurecia giving a key contribution on hydrogen and storage systems development.
Faurecia and Hella: Group sales ambitions of €33 billion
Patrick Koller, Chief Executive Officer of Faurecia, declared: «Today, Hella and Faurecia are opening the first chapter of the newly combined Group. This transforming acquisition brings together two complementary and profitable companies to create the 7th largest global automotive supplier with a highly advanced technology portfolio. Our 2025 combined Group sales ambitions of €33 billion represents a significant leverage and we will now work together effectively to immediately start implementing the significant and confirmed synergies that have been identified and create sustainable value for all our stakeholders».
More into details of the financial operation, Faurecia acquired a total of 79.5% of the shares in the German family company. On the other hand, the pool of Hella family shareholders has become Faurecia’s largest shareholder of Faurecia with 9% of Faurecia shares. Starting from February 1st, 2022, the results of Hella GmbH & Co. KGaA are consolidated into the financial accounts of the Faurecia Group.