Yesterday Sodecia Amazonia Ltda (SAAMZ) completed and concluded the acquisition of Scorpios da Amazonia Ltda, which Share Purchase Agreement (and ancillary documents) was executed on June 15, 2020.
This acquisition is bringing to Sodecia Automotive South America Division (SADSA) more and better industrial capacities in Manaus, that shall increase our capabilities towards Honda, our most important customer on-site as well as opening the door to serious and relevant synergies which shall generate the growth of business and results on such division.
But yeaterday Sodecia has also signed the Asset Purchase Agreement (and all other related legal documents) regarding the purchase of the assets and business activities of B&B Holding GmbH & Co. KG and BRAUN CarTec GmbH (together BCT), however still pendent on certain conditions precedent that we hope to be accomplished in a very short time-line.
The purchaser is the newly incorporated Sodecia Automotive Oelsnitz GmbH (SAOEL) which is 100% controlled by Matador Automotive Vrable, a.s. (SAVRA) that shall take-over all activities at Saarlouis, Germany, where the new plant is located.
The acquisition of BCT business activities is strategic under different perspectives for Sodecia Group expansion. From one side we are assuming the continuity of the activities in site avoiding disruptions that could be of very negative impact to VW Group. From another side we shall make a huge step forward on the hot-forming competences in Europe, gaining from long last experience within BCT. From yet other side we shall simplify the industrial installation and start-up processes to the Audi PPE project that, as you are aware, is of high importance to the Group.