French company buys parent of Dexter, Mo., automotive parts plant

EMCON Technologies, formerly Arvin Industries, will have yet another name in the near future. It was announced Monday that a European-based company, Faurecia, has acquired EMCON, making the company the world leader in emissions control technologies.

In a Monday morning release announcing the acquisition, Faurecia Chairman and CEO Yann Delebriere said, "I am pleased to welcome EMCON Technologies and its teams within Faurecia. This deal is in line with our company strategy introduced in February 2009. It reinforces our leading position on the market for emissions control technologies."

Faurecia has headquarters in Paris, France and bought the Troy, Mich., based EMCON Technologies for $435.8 million, according to company information. The purchase will double the size of Faurecia's exhaust-systems business.

The deal, which has reportedly been in the works since last April, had EMCON Technologies CEO Lee Gardner stating, "The entry of EMCON Technologies into Faurecia ... is a success for our teams and an important step in our development. It takes place at a crucial moment as the emissions control market requires strong technology developments and enjoys strong growth worldwide."

In 1973, the local exhaust emissions manufacturer opened its doors in Dexter under the name Arvin Automotive. Later the Meritor name was added to the mix and the name became ArvinMeritor, Inc. That name changed in May 2007 when One Equity Partners, a New York based firm, announced the acquisition of ArvinMeritor's Emissions Technologies Group in a $310 million transaction. ArvinMeritor then became EMCON Technologies and has operated as such until this week.

According to HR Director of the local plant, Bobby Ward, the Dexter plant currently employs 671 individuals, making it by far the largest industry in the area. Over half of EMCON's workforce experienced layoffs when the economy took a downturn over the past year. All laid-off employees, however, received a call back in late summer and into fall; and in addition, the plant hired over 100 new workers.

The completion of the current acquisition is subject to obtaining approval of antitrust authorities, and to the vote of Faurecia shareholders.

The Faurecia purchase included EMCON plants in 18 different countries, representing about 6,700 jobs.

According to Ward, there are no major changes expected to take place locally with the latest acquisition completion.

"All operations will continue as normal," Ward stated Monday.