You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Croatia's AD Plastik seals car parts contracts worth 46.8 mln euro with PSA, FCA

Croatia's AD Plastik seals car parts contracts worth 46.8 mln euro with PSA, FCA AD Plastik factory; Source: AD Plastik

ZAGREB (Croatia), April 16 (SeeNews) - Croatian manufacturer of plastic components AD Plastik [ZSE:ADPL] has signed contracts worth a total of 46.8 million euro ($52.9 million) for the production of car parts with French automotive manufacturer PSA Group and Italian-American car manufacturer FCA Group, it said on Tuesday.

The contracts with PSA have a total value of 26.1 million euro, while those with FCA amount to 20.7 million euro, AD Plastik said in a filing to the Zagreb Stock Exchange (ZSE). 

Under a 1.7 million euro contract with PSA, the Croatian company will manufacture speaker brackets for Citroen Picasso and C-Elysee vehicles, as production will start in 2020 and run for eight years. Another contract, worth 3 million euro and also starting in 2020, envisages production of side trims for Citroen C3 in the course of four years.

AD Plastik also signed contracts worth 20 million euro for the production of grab handles for Peugeot 208, Peugeot 2008, Citroen DS3 Crossback and Opel Corsa, estimated to run for ten years and start in 2019. Another contract, worth 1.4 million euro, envisages production of inner engine covers for Opel Adam Crossback, over seven years starting in 2020.

One of the contract which AD Plastik signed with FCA envisages production of interior components and air ducts for Fiat 500e, starting in 2020 with an estimated duration of eight years. It is worth 13.9 million euro. The other contract, worth 6.8 million euro, refers to the production of grab handles for Jeep Compass, planned to start in 2020 and last four years. 

AD Plastik's consolidated net profit grew 24% year-on-year in 2018, reaching 87.27 million kuna. 

(1 euro = 7.43232 kuna)