The acquisition of a majority stake in Hella GmbH & Co KGaA by Faurecia was announced on January 31.01.2022, XNUMX. Now the new name of the merged companies is known, it is FORVIA. Now all the details about the new name have been announced.
The details of this were announced in a press release on February 07.02.2022th, XNUMX:
According to the manufacturer, FORVIA (FOR as in English FORward and VIA, the Latin word for road) stands for movement and agility, and thus for the convictions and actions of the new group with a view to the current transformation of mobility.
According to its own statements, FORVIA wants to concentrate on the future positions of the automobile. The company's vision is based on four pillars: safety, sustainability, advanced solutions and individual experiences.
Patrick Koller, CEO of Faurecia: “We are FORVIA! The new name reflects the respective brand essences of Faurecia and HELLA and is also a good description of our common goal: Inspiring Mobility. The new group represents 150.000 people in more than 40 countries who share a common vision, speak with one voice and work as one team. As FORVIA, we design safe, sustainable, progressive and individual mobility for the generations of today and tomorrow.”
The name embodies essential core aspects that have always distinguished both companies: dynamism, vision, passion, solution orientation, customer proximity and a sense of community.Rolf Breidenbach, CEO of HELLA
Rolf Breidenbach, CEO of HELLA, adds: "FORVIA perfectly summarizes the close cooperation between Faurecia and HELLA. The name embodies essential core aspects that have always distinguished both companies: dynamism, vision, passion, solution orientation, customer proximity and a sense of community. At the same time, FORVIA is a clear signal for the start of a common future.”
Faurecia and HELLA will continue to operate as two legally independent companies working closely together. The aim is to create sustainable values for everyone involved through technological solutions and synergy effects that arise in the interests of both companies.
Both companies will continue to use their legal names as Faurecia SE and HELLA GmbH & Co. KGaA, but will appear together in communication under the umbrella name FORVIA. The products will continue to be sold under their existing brands.
### Updated 31.01.2022/XNUMX/XNUMX
On January 31.01.2022, 14, Faurecia announces that it has completed the acquisition of a majority stake in Hella GmbH & Co KGaA, which was announced on August 79,5. As Faurecia further communicates, it will acquire a total of approx. 5,3% of Hella shares. The total value (cash and shares) of this acquisition represents an investment of €XNUMX billion, according to Faurecia.
According to the group, the announcement of the majority stake will create the seventh largest automotive supplier in the world.
The official statement from Patrick Koller, CEO of Faurecia. reads: "Today, Hella and Faurecia are opening the first chapter of a new joint group. This groundbreaking acquisition brings together two complementary, compatible and profitable companies to form the seventh largest automotive supplier in the world with a cutting-edge technology portfolio. The combined group sales of €2025 billion targeted for 33 will have a considerable leverage effect. Together we will now make intensive efforts to immediately implement the identified and confirmed synergies and to create sustainable values for all our stakeholders.”
### September 2021
The French supplier Faurecia was founded in 1997 and has since developed into an important partner in the global automotive industry. There are currently 266 locations, including 39 R&D centers, and 114.000 employees in 35 countries according to information provided by the company. Faurecia focuses on its four business areas Seating, Interiors, Clarion Electronics and Clean Mobility. Fauerica is now planning to take over HELLA.
Shareholders can tender the shares in the first acceptance period until October 25th, according to Faurecia SA in a public press release. The rest of the time runs from October 29th to November 11th. As announced, Faurecia is offering 60 euros per HELLA share. In addition, shareholders received a dividend of EUR 0,96 per share.
In August, the French announced the takeover of the Lippstadt-based lighting and electronics specialist and at the time had already secured the 60 percent share package from the HELLA pool shareholders at a price of 60 euros per share. By merging their activities, HELLA and Faurecia will become the seventh largest automotive supplier in the world.
According to Faurecia SA, the publication of the offer document has been authorized by the Federal Financial Supervisory Authority (BaFin); this can be viewed at www.faurecia-offer.com. In addition to the German version of the offer document, a non-binding English version of the offer document is also available at this Internet address.
Sources Press release from Faurecia SA
Cover picture - HELLA Logo - © Ricochet64 - stock.adobe.com
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