Ams Osram selling its headlamp operations

German company Osram has agreed to sell its finished headlamp operations for €65 million.

The sale of Automotive Lighting Systems GmbH (AMLS) to Levallois, France-based Plastic Omnium includes final headlamp assemblies and LED headlamp modules.

The €65 million ($71.5 million) price is well below the €148 million ($162.6 million) in revenue that the troubled operations generated in 2021.

Ams Osram and Plastic Omnium said they expect to complete the transaction by the third quarter.