On December 21, 2017 Faurecia announced that it had entered into an agreement for the acquisition of 100% of the Swiss company Hug Engineering.

Faurecia is a global leader in clean mobility in the automotive industry. With this acquisition, Hug Engineering will complement the clean mobility business unit with their exhaust gas aftertreatment products for high horsepower engines.

We are convinced this will enable us to accelerate our strategic growth as initiated in 2017. The combination of Faurecia’s global reach and world leading innovative systems for commercial vehicles with Hug Engineering’s systems expertise will facilitate the future growth rapidly in the high horsepower market, as regulations come into force.

Stefan Fuss,
CEO of Hug Engineering.

High horsepower engines are used in marine propulsion, power generation, rail, agricultural and other industries. The market for emissions purification systems for these engines is expected to grow rapidly, as regulations come into force which will cover more than 75% of the market - as compared to only 25% today.

Hug Engineering is the market leader in Europe and one of the largest players worldwide. It develops and offers its customers complete systems including manufacturing and assembly. Its key technologies are diesel particulate filters, selective catalytic reduction of NOx and catalytic oxidation.

The closing of this transaction, subject to regulatory approval in some European jurisdictions, is expected to take place during the first quarter of 2018.