GFG Alliance’s industrial business Liberty has won its bid to acquire two French vehicle components suppliers - Saint Jean Industries Poitou and Fonderie du Poitou Fonte.
GFG is now in a position to commence the implementation of a comprehensive recovery plan for the plants including, a refreshed order book, introduction of the LMOS (Liberty Manufacturing Operating System), investments in equipment and improvements in maintenance. The deal will secure the jobs of over 600 staff across both sites which produce a range of components for automotive engine assemblies. The businesses will henceforth 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.
To that end, and in a move towards greater strategic focus and consolidation, the Alliance is looking to mobilize its aluminium and other activities into more globally oriented business lines, which would include the Poitou companies.
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