LISI Group becomes sole owner of US company TERMAX LLC
LISI Group (Euronext Paris ISIN code FR0000050353 - FII) has agreed to acquire
the remaining 49% of the TERMAX LLC equity. This transaction, initially planned
for the first quarter 2021, enables LISI Group to become the sole owner of
TERMAX LLC through its US subsidiary, LISI Holding North America.
"With TERMAX LLC, LISI AUTOMOTIVE has extended its global footprint in
clip-fastening solutions in a lasting manner. The commercial and industrial
synergies between our Clipped Solutions Business Group and Termax will continue
to bear fruit. They will allow us to bring to a wider customer base the best
development and production capabilities to offer innovative solutions in the
areas of weight reduction, electrification and autonomous vehicle equipment",
said François LIOTARD, Chief Executive Officer of LISI AUTOMOTIVE.
Effective as from June 30, 2020, the transaction will not have a material
impact on the LISI Group financial statements in which TERMAX and the whole of
the corresponding debt have been consolidated since November 1, 2017.
LISI is a global industrial group specializing in the manufacture of high
value-added assembly and component solutions for the aerospace, automotive and
medical industries. Thanks to the commitment of its 11,171 employees in 13
countries over four continents, LISI generated sales of EUR1,7 billion in 2019.
The Group is listed on the Paris stock exchange.