Sanjeev Gupta’s GFG Alliance has announced the acquisition of two vehicle components suppliers in French. Through its industrial business Liberty, GFG has become the owner of Saint Jean Industries Poitou and Fonderie du Poitou Fonte.
As a result of the rulings by the courts of Administration, GFG is now in a position to commence the implementation of a comprehensive recovery plan for the plants including, a refreshed orderbook, introduction of the LMOS (Liberty Manufacturing Operating System), investments in equipment and improvements in maintenance.
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Chief Executive of Liberty Industries Group Dr Douglas Dawson said: “This is a great day for both companies and for our group. Moreover, it’s a great result for the workers who I am delighted to be welcoming to the GFG family and growing portfolio of French businesses. We’ve been clear from the outset just how important the French market is for us and the acquisition of these specialist automotive suppliers is strategically very significant as we look to expand first domestically and then further afield while also adding value and safeguarding jobs and skills.
“This clearly expands our market reach and builds on our goal of extending our capabilities as a strategic Tier 1 supplier to the European auto sector.”
The businesses will be known as Liberty Engineering Poitou, incorporating Liberty Aluminium Technologies Poitou and Liberty Cast Products Poitou.
“The acquisitions are an extension of GFG’s strategy for enlarging and diversifying its presence in the French Industrial sector and further underline its role as a major industrial player in France. They also allow the Alliance to enact its strategy of acquiring assets that give it a platform to deliver growth in the future of Green Drive Trains, used in electric vehicles, which will require ever increasing amounts of aluminium,” the company said.
These businesses enter the Alliance’s French portfolio alongside France’s second largest vehicle converter Durisotti, France’s only manufacturer of aluminium wheels, now Liberty Wheels France - and Europe’s largest aluminium smelter Liberty Aluminium Dunkerque, the company said through its press release.
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