Faurecia

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Faurecia
Type Public
Traded as EuronextEO
Industry Automotive
Founded 1997
Headquarters Nanterre, France
Number of locations 34 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 Increase €18,028.6 million (2013)
Operating income Increase €538.3 million (2013)
Net income Decrease €87.6 million (2013)
Total assets Increase €8,330.8 million (2013)
Total equity Increase €1,642.3 million (2013)
Employees 97,419 (2013)
Website http://faurecia.com

Faurecia is the 6th largest international automotive parts manufacturers in the world; in 2013 it was #1 for vehicle interiors and emission control technology.[1] One in four automobiles is equipped by Faurecia. It designs and manufactures seats, exhaust systems, interior systems (dashboards, centre consoles, door panels, acoustic modules) exterior modules (front ends, exterior systems and shock absorption systems) and decorative aspects of a vehicle (aluminium, wood).

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 employs 5,500 engineers and technicians. The company operates over 320 production sites and 30 R&D centres in 34 countries worldwide, with 460 patents filed in 2012. About half of these sites are manufacturing plants operating on the just-in-time principle. Faurecia joined the United Nations Global Compact in 2004. While French car manufacturer PSA Peugeot Citroën is Faurecia's controlling shareholder, holding around 57.4% stake, Faurecia is run as an independent company.[2]

Timeline[edit]

1914:
Bertrand Faure opens a workshop to produce seats for trams and Metro trains. His company is known as the Bertrand Faure Group or BFG.

1929:
BFG 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:
BFG is acquired in a LBO backed by Michelin, Michel Thierry, Peugeot, and others to block a takeover attempt by Valeo.
1991:
BFG acquires Rentrop in Germany.
1997:
BFG 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:
Faurecia Interior Systems set up its R&D centre in Pune, India, with plans to employ 800 people there.[3] Faurecia has standardised operations worldwide and its system of excellence in production helped it reinforce its efficiency and product quality. This year the group earned a number of awards from their clients all over the world.

2013:

Japan's Chamber of Commerce (CCIFJ) recognised Faurecia's strong 2012 progress in the country with the "Jury's Special Award" at the French Business Awards 2013.[4]

Michel Favre will join Faurecia as the Financial Director in September 2013.

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