LISI (EPA:FII) - The LISI GROUP enters into negotiation with AFF GROUPE for the disposal of its chassis & steering pivots business

Transparency directive : regulatory news

10/09/2019 17:40

Paris, September 10, 2019

THE LISI GROUP ENTERS INTO NEGOTIATION WITH AFF GROUPE FOR THE DISPOSAL OF ITS
                     CHASSIS & STEERING PIVOTS BUSINESS

AFF GROUPE, a family-owned company specialized in the manufacture of fasteners,
rivets and special parts for the automotive sector, has submitted to LISI Group
a firm offer for the acquisition of the business producing chassis screws and
studs as well as steering pivots located at Saint-Florent sur Cher, being part
of the company LISI AUTOMOTIVE FORMER.

The chassis screws and studs and steering pivots business is operated in
Saint-Florent sur Cher; it employs 159 people and generated sales of EUR 36.1
million in 2018, relying on significant positions at PSA, Renault and JTEKT.

The family-owned company AFF GROUPE aims to accelerate its development in the
market for automotive screw fasteners, to quickly generate industrial synergies
between its various sites and expand the current range of screws by adding
chassis screws to the body screws it currently manufactures, as well as to
enhance its know-how in steering heads.

The divestment project, following the recent acquisitions of TERMAX and HI-VOL
PRODUCTS, would enable LISI AUTOMOTIVE Division to continue refocusing its
activities on fastener solutions and mechanical components with high added
value.

The transaction is still subject to the consultation of the employee
representatives of LISI AUTOMOTIVE FORMER and to obtaining the required
authorizations, in particular the approval of LISI Board of Directors.

LISI Contact                         AFF GROUPE Contact
Emmanuel VIELLARD                    Marc AURIOL
Tel: +33 (0)3 84 57 00 77            Tel: 06 11 70 61 55
Email:
emmanuel.viellard@lisi-group.com     Email: marc.auriol@aff-groupe.com
Website: www.lisi-group.com          Website: www.aff-groupe.com

The LISI share is listed on Euronext, compartment A and belongs to the CAC(r)
AERO & DEF., CAC(r) All Shares, CAC(r) Industrials indices, under ISIN code:
FR 0000050353.

The LISI Group is one of the world leaders in screwed and clipped fasteners and
mechanical safety components for the Aeronautics, Automotive and Medical
sectors with sales of EUR 1,645 million in 2018 and a workforce of 12,131
people.

Reuters Code: GFII.PA / Bloomberg Code: FII FP

AFF Groupe is a family-owned company (Auriol family) that specializes in the
manufacturing of cold-heading fasteners for the automotive sector and the
industry. It owns the following companies: Auriol Frappe à froid, based in
Bessières (31), AFF Visserie, based in Monistrol-sur-Loire (43) and Le Rivet
Foré, based in Epinay-sous-Sénart (91).

LISI's latest news

25/04/2024 17:41

LISI (EPA:FII) - The LISI GROUP enters into negotiation with AFF GROUPE for the disposal of its chassis & steering pivots business

Transparency directive : regulatory news

LISI's latest news

Other stories