Strategy / 31/07/2015
Official launch of the joint-ventures with Dongfeng
July 1st, 2015 saw the naming of two joint venture companies in China set up in March between Faurecia and Dongfeng Hongtai Holdings Co. Ltd. In a special ceremony in Wuhan, the partners celebrated the official start of Dongfeng Faurecia Automotive Interior Company and Dongfeng Faurecia Automotive Exterior Company that will supply equipment to Dongfeng and its automotive affiliates. Over 170 people participated in the event, including the management teams from both parties and employee representatives.
It was only a year ago that Faurecia and Dongfeng decided to pursue a partnership. Teams worked quickly – signing a partnership agreement in March this year, JV registrations in May and now the official naming of the Interior and Exterior companies.
To support this strategic partnership, a TechCenter and three plants will be created. Located in Wuhan, the TechCenter will focus on developing programs for the two joint ventures. Automotive interior components such as dashboard/consoles, door panels, acoustic and soft trim part will be manufactured in Wuhan, and exterior parts in a new manufacturing facility in Chengdu. This initial partnership is expected to make over €0.5 billion euro of sales revenue by 2020.
Jean-Michel Vallin, President of Faurecia China and Vice-Chairman of the new joint ventures, said during the ceremony. “Entrepreneurship, autonomy, accountability, respect, exemplarity and energy are the six values for every Faurecian, while teamwork, pragmatism, integrity and entrepreneurship are the key values for Dongfeng. There are so many common values between us.”
Strategy, Finance / 19/04/2016
2016 Investor day - Faurecia to accelerate profitable growth and enhance technology offer to become leader in sustainable mobility and cockpit of the futureAt its Investor Day held today in Paris, Faurecia outlined its strategy for accelerating value creation. For the period 2016 – 2018 the Group will see total sales growth of 6% CAGR (400 basis points above automotive production). The operating margin in 2018 will reach 6% of total sales (7% of value added1 sales). Net Cash Flow will be above €500 million and earnings per share will reach €5.+
Strategy, Finance, Technology, Corporate / 09/03/2016Faurecia supplies a large number of equipments for the 4th Scenic generation, revealed at the 2016 Geneva Motor Show+