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Faurecia

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Type	Public (Euronext: EO)
Industry	Automotive
Founded	1997
Headquarters	Nanterre, France
Number of locations	33 countries
Area served	International
Key people	Yann Delabrière, CEO
Products	Exhausts, Seats, Interiors and Front Ends
Services	Design and manufacture of automotive sub-systems for the Volkswagen group, PSA Peugeot Citroën, Renault-Nissan, Ford, General Motors, BMW, Daimler, Fiat Chrysler, Toyota, Hyundai-Kia and other automotive OEMs
Revenue	€13,795.9 million (2010)
Operating income	€455.6 million (2010)
Net income	€201.7 million (2010)
Total assets	€6840.4 million (2010)
Total equity	€898.2 million (2010)
Employees	75,676 (2010)
Website	faurecia.com

Faurecia is one of the largest international automotive parts manufacturer in the world ^[1]. It produces 6 types of car modules: seats, cockpits, doors, acoustic packages, front end and exhaust. Faurecia's customers include the Volkswagen group, PSA Peugeot Citroën, Renault-Nissan, Ford, General Motors, BMW, Daimler, Fiat/Chrysler, Toyota and Hyundai-Kia among others. Headquartered in Nanterre, France, Faurecia operates over 238 production sites and 38 R&D centers in 33 countries worldwide. About half of these sites are manufacturing plants operating on the just-in-time principle. Faurecia joined the United Nations Global Compact in 2004. French car manufacturer PSA Peugeot Citroën is Faurecia's controlling shareholder, holding around 57.4% stake.

History[link]

The expertise of the Faurecia Group has a history which is closely intertwined with the history of French industrialization extending back to the year 1810.

In 1810 the brothers Jean-Pierre and Frédéric Peugeot opened with Jacques Maillard-Salins, a steel foundry for the manufacture of saw blades in Hérimoncourt, a village in eastern France. Within a few years, they were active in the field of tool manufacturing, and opened factories in the region of Montbéliard. From 1850 onwards, more businesses were added, with the famous Peugeot lion first appeared on tools in 1858. After Peugeot had invented the tricycle in 1880, the company began only a year later with modern automobile production.

Bertrand Faure opened in 1914 his first workshop, which produced seats for the Paris Metro trams. Fifteen years later the company acquired the license for a novel method with which he managed to produce the novel product of the spring mattress and perfect seats for the automotive industry. The business sectors of the manufacturing headquarters for trams and cars evolved very quickly after World War II. In the second half of the 20th century, the company expanded in the market for the manufacture of automotive parts, which included, inter alia, seats, exhaust systems and steering columns. In 1987, Peugeot merged the daughter companies AOP (Aciers & Outillages Peugeot - Peugeot steel and tools) and Cycles Peugeot and eventually formed the new company ecia (Equipements et Composants pour l'Industrie Automobile - Equipment and Components for the Automotive Industry).

On December 11, 1997, Bertrand Faure launched a takeover bid in which it wanted to increase its direct and indirect shares in Ecia to 99 percent. This was the birth of the Faurecia Group. The merger and creation of the Faurecia group took place two years later and resulted in a business with 32,000 employees, a turnover exceeding 4 billion euros and an international presence. In 1999, Faurecia acquired the American company AP Automotive Systems, and was thus able to expand its business for exhaust systems on the North American market. Another acquisition that followed was Sommer Allibert, a company that specialized in vehicle interiors, only a year later.Because of the broad establishment of Sommer Allibert business branch in Germany and Spain in Europe, Faurecia possession of significant market share especially in the area of door panels, instrument panels and acoustic packages.^{[clarification needed]} The acquisition was financed through the parent company, PSA Peugeot Citroën, which increased its shareholding in Faurecia to 71.5 percent.

In 2006, their Chairman and Chief Executive, Pierre Levi resigned amidst bribery investigations.

In November 2009, Faurecia announced that they had signed a deal to acquire EMCON Technologies , an integrator of emissions control technologies for passenger and commercial vehicles. Faurecia will buy the Troy, Michigan-based emission control technologies group for 20.9 million new Faurecia shares, cutting Peugeot's Faurecia stake to 57.4% from 70.85%.

In January 2011, Faurecia announced that it would take a strategic a 21.2% stake in Amminex A/S – a Danish company with leading-edge expertise in the treatment of nitrogen oxides and the inventor of the Ammonia Storage and Delivery System (ASDS). This transaction, valued at DKK 146.4 million (EUR 19.6 million) in cash, was intended to broaden its portfolio of product solutions for reducing nitrogen oxides (NOx) from Diesel engines.

The company has since 2010 been pursuing growth in Asia, particularly to gain a foothold in the large and rapidly growing automotive markets of India and China.

Timeline[link]

1914:
Bertrand Faure opens a workshop to produce seats for trams and Metro trains.

1929:
Faure acquires Epéda spring patent and begins production of seating systems for the automotive market.
1945:
Peugeot begins production of automotive components, bicycles, and motorcycles through subsidiaries Aciers et Outillage Peugeot and Peugeot Cycles.
1987:
Aciers et Outillage Peugeot and Peugeot Cycles are merged to form ECIA; Faure acquires Delsey and Luchaire.
1988:
Bertrand Faure is acquired in a LBO backed by Michelin, Michel Thierry, Peugeot, and others to block a takeover attempt by Valeo.
1991:
Faure acquires Rentrop in Germany.
1997:
Faure agrees to be acquired by ECIA, forming Faurecia.
1999:
Faurecia acquires AP Automotive Systems in the United States.
2001:
Faurecia acquires the automotive components operations of Sommer Allibert.
2003:
Faurecia wins a $2 billion contract for production of cockpit components for Chrysler in the United States.
2012:
In 2012, For Faurecia Interiors The First Manufacturing Unit in INDIA has been Launched as Faurecia Interior Systems India Private Limited in Chennai, INDIA

Business Groups[link]

Faurecia Emission Control Technologies[link]

Faurecia is the world's largest supplier of exhaust systems. One in four vehicles around the world is fitted with a Faurecia exhaust system.^{[citation needed]} Faurecia develops and produces entire exhaust systems, from the manifold to the tail pipe. The group developed the Diesel Particulate Filter with PSA, contributing to the development of "clean" cars by treating pollutants (e.g. nitrogen oxides) and recovering energy. This group accounts for 30% of the company's sales.

Faurecia Interior Systems[link]

Faurecia is the world's largest supplier of vehicle interior parts.^{[citation needed]} It develops instrument panels, center consoles, complete cockpits, door modules, door panels and acoustic solutions^{[clarification needed]} for all types of vehicles. This group accounts for 23% of the company's sales.

Faurecia Automotive Exteriors[link]

Faurecia provides its customers with innovative solutions^{[clarification needed]} for the front end (front end carrier, bumper, etc.) and other parts that make up the vehicle exterior. This group accounts for 12% of the company's sales.

Faurecia Automotive Seating[link]

Faurecia, the world's number three seat supplier designs and produces the complete seat and its main components: frames, adjustment mechanisms, runners, foam and covers, and safety and comfort features. This group accounts for 35% of the company's sales.^{[citation needed]}

Research and development[link]

The group's research is focused on six areas: quality, comfort, safety, environmental protection, cost reduction and integration capability. Overall, the company employs 3500 engineers and technicians in 38 research and development centers.

References[link]

External links[link]

• Official website

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