Delphi completes $984.2 million connectors acquisition
Automotive parts supplier Delphi says it expects annual pre-tax synergies of $80 million by 2015.
GILLINGHAM, U.K. & TROY, Mich.—Delphi Automotive PLC has completed its acquisition of FCI Group’s Motorized Vehicles Division (MVL) in a deal worth €765 million (CAN$984.2 million).
Delphi says it can achieve annual pre-tax synergies of $80 million by 2015.
MVL makes automotive connection systems with a focus on providing high-value, leading technology applications.
“We have strengthened our market leadership in the global automotive connector industry and positioned Delphi to further benefit from the growing electronics and safety content in motor vehicles,” said Rodney O’Neal, chief executive officer and president of Delphi. “The combined connector businesses will deliver significant revenue and operating synergies and accelerate our sales and earnings growth.”