On October 26, 2012, Delphi Motors Corporation (NYSE: DLPH) announced the completion of the acquisition of the Automotive Products Division (MVL) of the FCI Group. MVL is the world's leading manufacturer of automotive connector systems and is committed to leading, high-value technology applications. Delphi will complete the transaction in cash on a debt-free basis and the deal will be worth 765 million euros. Regardless of integration costs and other related acquisition costs, the transaction is expected to increase Delphi's 2013 earnings per share by $0.24. Delphi is very confident that by 2015, the combined efficiency of the two companies will achieve a pre-tax benefit of $80 million.
Delphi CEO and President Rod O'Neill said: "We are very excited about the completion of the acquisition of MVL. The market's increasing demand for automotive electronics and automotive safety products, this acquisition enhances Delphi in the global automotive connector industry Leading the supplier position and increasing Delphi's revenue in this segment of the market. I believe that the combined connector business will bring significant operating revenue to Delphi and generate operational synergy, accelerating our sales and revenue growth."
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