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Faurecia buys 50 pct stake in Romania's Euro APS from Simoldes Plasticos


Published : Tue, 23 Jan 2007 16:43
By : Agencies
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PARIS (AFX) - Faurecia SA said it has acquired a 50 pct stake in the Romanian auto parts company Euro Auto Plastic Systems (Euro APS) from Portugal's Simoldes Plasticos, and said it will take over management operations at the company.

AD Plastik, a Croatian auto parts company, will continue to hold the other 50 pct stake in Euro APS.

'Thanks to this acquisition, Faurecia significantly expands the scope of its activities for the Renault group, and in particular for the Dacia Logan,' Renault's Romanian subsidiary, the company said.

Faurecia already supplies parts for the Logan, including seating systems and bumpers.

paris@afxnews.com

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