delphi mvl.automotiveIT

MVL makes connectors, including charge plugs for electric vehicles (Photo: FCI)

Delphi said it had finalized the purchase of FCI Group's Motorized Vehicles Division (MVL) for 765 million euros.

The US automotive supplier said the acquisition will boost its position in a growing automotive market segment.

"We have strengthened our market leadership in the global automotive connector industry and positioned Delphi to further benefit from the growing electronics and safety content in motor vehicles," Delphi CEO Rodney O'Neal said in a statement.

According to FCI's Web site, Britain-based MVL had 2011 sales of 692 million euros and is the number 2 provider of connectors with a global market share of 11 pc. The company employs 7,000 people, has 12 factories and five r&d centers.

MVL supplies most of the major automotive brands, making connectors for engines, cockpits, car interiors and various in-car applications. It also produces high-power connectors and charge plugs for electric vehicles.