May 25, 2021
Leading automotive supplier, Marelli, has today announced that it has signed an agreement to conclude the sale of its headquarter building in Japan (Saitama-city, Saitama Prefecture). As part of the agreement, Marelli has signed a leaseback agreement and will remain in the building.
As part of its “AMBITION 2024” mid-term strategy, Marelli has clear investment plans for technology and geographic expansions to strengthen its position as a global leading independent Tier 1 automotive supplier. This transformation program is already delivering real results helping to make Marelli more competitive, more diverse and more aligned to customers. Capital efficiency is a fundamentally important part of being able to fund future growth and the sale and leaseback of property is part of this effort.
Christoph Hobo, CFO Marelli, said: “We are constantly striving to optimize our capital structure and to efficiently fund our investments for growth. Monetizing real estate on our balance sheet via sale-and-leaseback transactions is a great way of maximizing our capital efficiency. The very attractive valuation of this transaction will generate the cash which will support the execution of our overall strategy”.
Marelli is also taking this opportunity to implement modern, flexible and diverse working styles. Since last year Marelli has strongly promoted work-from-home systems for employees to prevent COVID-19 infection, which has proven both effective and efficient. Marelli will therefore continue to encourage a work-from-home system and flexibly respond to our people’s individual situations. In order to retain and attract top talent, we consider it key to provide modern and flexible ways of working, suited to the ever-changing business environment and ways of working.