Strategy / 10/04/2013
New joint venture for Faurecia in Thailand
Faurecia Interior Systems signed an agreement to establish a joint venture with Thailand-based equipment manufacturer Summit Auto Seats to support Ford's growth strategy in Southeast Asia, especially in Thailand.
Faurecia Interior Systems (FIS) signed a joint-venture agreement with Thailand-based equipment manufacturer Summit Auto Seats to produce automotive interior components (door panels, center consoles and instrument panels) for Ford and Mazda.
The joint venture's manufacturing base will include two production sites: the 3,400-sqm FIS plant in Pluak Daeng and a new 12,400-sqm site incorporated into Summit's facilities.
The joint venture will put Faurecia in a position to support Ford's growth strategy in Southeast Asia, with a focus on the Thai market.
Thailand is a real hub for automotive production in the ASEAN region. The country is set to make over two million vehicles in 2013, with over 50% for export to countries like Indonesia, Australia, Japan, the Philippines and Malaysia.
The local market is largely dominated by Japanese automakers (75%). Ford's market share is just under 10%.
Faurecia's presence in Thailand includes a plant in Rayong for emissions control technologies, and FIS sales office in Bangkok and the new plant in Pluak Daeng, which opened last year.
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