Sogefi will finance the acquisition with the credit lines it already has. The completion of the agreement, expected in the third quarter, is subject to the usual conditions precedent, including the approval of the antitrust authorities. Following the completion of the transaction, the Sogefi group is expected to achieve total pro forma revenues for the year 2011 of around 1,3 billion euros.
Supplier of the world's leading car manufacturers, the French group has seven plants (three of which are in France, while the others are located in Canada, Mexico, Romania and India), two research, development and innovation centers (in France and the United States ) and is currently building a new production facility in China. Mark IV Systemes Moteurs generates approximately 78% of its revenues in Europe, holds growing market shares in North America and has begun expanding into rapidly developing countries such as China and India.
"With the acquisition of Mark IV Systemes Moteurs - says Rodolfo De Benedetti, CEO of the Cir group and president of Sogefi - we seize an important opportunity for international development and technological integration, demonstrating that we have strengthened our competitive position after the recent crisis of the sector".
