ams OSRAM to sell its AMLS business to Plastic Omnium
ams OSRAM has entered into an agreement to sell its AMLS (Automotive Lighting Systems GmbH) business to Plastic Omnium for EUR 65 million.
The transaction is yet another step in the implementation of ams OSRAM’s strategy to focus on its core technology and divest businesses that are not seen as core. ams OSRAM says in a press release that it will continue to be a key supplier of automotive LED and optical components to Plastic Omnium. The company also stresses that the transaction does not include other ams OSRAM technologies and products targeted towards automotive OEM and the automotive aftermarket.
ams OSRAM Automotive Lighting Systems GmbH was set up on 1 October 2021 following the dissolution of the OSRAM Continental joint venture. With its headquarters in Munich, AMLS combines lighting technology with electronics and software to develop smart full lighting systems for the automotive industry.
“The combination of Plastic Omnium and AMLS makes perfect sense. Our portfolios are highly complementary, together we expect to expand our market access and we share a similar mission and mindset. We look forward to joining Plastic Omnium to establish a strong mobility lighting player built on AMLS' portfolio of innovative technologies," says Dr. Dirk Linzmeier, General Manager of AMLS, in the press release.
The AMLS business generated EUR 148 million in revenues in 2021, and has about 770 employees at nine locations worldwide, including 120 engineers working in five dedicated R&D facilities.
“The acquisition of AMLS is a unique opportunity to take an important step into the growing innovative lighting systems segment. Thanks to its advanced product portfolio, strong expertise, balanced footprint, and the quality of its team, this acquisition will allow Plastic Omnium to accelerate its ambitious strategy to meet growing OEM customer demand for smart body car parts and opens up the potential to enter new market segments. We are excited about this latest addition to the Group,” says Laurent Favre, CEO of Plastic Omnium.
The closing of the transaction is expected in the third quarter of 2022.