29 March 2012Faurecia and NHK Spring broaden automotive seating business
Following 10 years of successful automotive seating business partnership, Faurecia and Japanese group NHK Spring Co. Ltd have decided to broaden their 50/50 Faurecia NHK (FNK) joint-venture to continue serving Nissan on a global basis. The new technical and commercial agreement foresees the establishment of branches in China and the United States in order to closely support Nissan operations in these two key automotive countries.
“Faurecia’s automotive seating business expects to be further boosted by the Renault / Nissan global approach and targeting new Nissan ‘Power 88’ opportunities in North America, China, Russia and Brazil,” said Patrick Koller, Executive Vice President of Faurecia Automotive Seating. The success of FNK has enabled both partners – Faurecia and NHK Spring – to significantly develop their sales to Nissan globally with seat assembly lines in Japan, China, Thailand, Spain, United States and South America.
With FNK now considered by the Renault-Nissan Alliance as a strategic partner for automotive seating, the growth prospects for FNK are expected to be very positive on the medium and long term. In 2011, FNK sales exceeded €600 million, while the €1 billion mark is expected to be reached in 2015.