French auto parts giant Foglia acquires Emcom
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January 7, Reuters European Commission 6th to the second highest in Europe, the world's eighth French auto parts supplier Faurecia to buy US technology company Emcon case the green light.
Emcom has leading technology in the field of automotive exhaust emission control, with an annual turnover of 3.2 billion US dollars and employs 6,700 people worldwide. Foglia has 190 production companies and 28 R&D centers in 29 countries. It employs 60,000 people and has an annual turnover of 12.7 billion U.S. dollars. The French automaker’s trademark to Citroën is its largest shareholder. After successively obtaining approvals from the US and EU antitrust agencies, Faurecia will hold a general meeting of shareholders at the end of this month to discuss the acquisition.
Faurecia expects that the global automotive exhaust control technology turnover will increase from 29 billion U.S. dollars in 2008 to 65 billion U.S. dollars in 2020.
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