Benteler is to divest its Tønder and Louviers automotive plants to Fidelium Partners.
In 2018, Benteler started a transformation programme with the objective of achieving profitable growth and securing a sustainable future by focusing on its core business as a metal processing specialist.
In 2020, the transformation efforts were further intensified with the focus on increased cost efficiency, new orders, an optimised product portfolio and more flexible fixed costs. Despite the pandemic, Benteler says it has stabilised liquidity and agreed refinancing with financing partners and all shareholders through 2024.
“It is important to us to thank all of our colleagues who have committed themselves and have successfully worked towards developing Benteler – helping us become what we are today: a leading global partner to the industry with more than 140 years of experience in forming and processing metals,” said Benteler Automotive COO, Emerson Galina.
For his part, Fidelium managing partner, Dominik Beck, added: “The Tønder and Louviers plants have excellent positioning in their respective markets. With aluminium becoming an increasingly important material for automotive manufacturers in the production of lightweight components, the facilities are set to take advantage of current trends in the automotive industry.”
“We look forward to supporting the management team and the entire workforce on the path to becoming an independent company. Coupled with our operational expertise and experience in the automotive sector, the Tønder and Louviers facilities will benefit from close cooperation with our automotive portfolio companies Mühlhoff Umformtechnik and RET, as well as their network of automotive manufacturers and suppliers.
“We are confident the full potential of both sites will be realised.”
In the coming months, both parties will work to enable a smooth transition. The divestment remains subject to the ordinary consultation process with the works council in Louviers.
The transaction is expected to be completed in the autumn of 2021. At that time, ownership of the plants in Tønder and Louviers will be transferred to Fidelium Partners.
https://www.benteler.com/en/press-media/news-and-press-releases/detail/BENTELER-signs-agreement-with-Fidelium-Partners/