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Delphi Completes Acquisition Of Motorized Vehicles Division Of FCI

Acquisition positions company as a leading automotive connectors supplier, and accelerates long-term sales and earnings growth, Delphi says.

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GILLINGHAM, England and TROY, Mich. – Delphi Automotive PLC has completed its acquisition of FCI Group’s Motorized Vehicles Division (MVL), a global manufacturer of automotive connection systems with a focus on providing high-value, leading technology applications. The transaction is valued at €765 million (approximately $987 million) on a cash and debt-free basis and is forecasted to be 24 cents accretive to 2013 earnings per share, excluding integration and other acquisition-related costs.

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“We are excited to complete the acquisition of MVL," said Rodney O’Neal, CEO and president of Delphi. "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. The combined connector businesses will deliver significant revenue and operating synergies and accelerate our sales and earnings growth.”

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