Plastic Omnium Adapts Its Fuel System Production Capacity in France

Regulatory News:

At its Central Works Council meeting today, Plastic Omnium (Paris:POM) announced its plans to close the fuel system production plant in Laval (Mayenne), France during 2016, a site that employs 93 people.

The Laval site has seen a 60% decline in business between 2011 and 2015, going from an annual rate of production of 880,000 fuel systems to 350,000, and no rebound is forecasted.

The closure plan that was presented includes the transfer of fuel system production to two French sites, Pfastatt (Haut-Rhin) and Compiègne (Oise), and a portion of the valves production activity will be purchased by a local business.

All of the 93 employees concerned will be offered re-employment support.

Plastic Omnium is the world leader in automotive exterior components and modules, automotive fuel systems, and waste container solutions for local authorities and companies. The Group has 25,000 employees across 115 plants, 21 R&D center s and 30 countries worldwide. Plastic Omnium is listed on Euronext Paris, compartment A. It is eligible for the Deferred Settlement Service (SRD) and is part of the SBF 120 and CAC Mid 60 indices (ISIN code: FR0000124570).

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