Faurecia Extends Its Partnership With Wuling Industry In China Through A New Joint Venture Agreement For Its Interiors Business

AUBURN HILLS, Mich., Nov. 29, 2017 /PRNewswire/ -- Faurecia, one of the world's largest automotive suppliers, today announced its new joint-venture with Liuzhou Wuling Industry Co. Ltd, named Faurecia Liuzhou Automotive Interior Co., Ltd.

The joint venture consolidated by Faurecia will develop and manufacture automotive interior products including instrument panels, center consoles, door panels and acoustic products to SGMW affiliated OEM brands and other customers. Located in Liuzhou (Guangxi Zhuang Autonomous Region), the joint-venture targets annual sales of 1.3 billion RMB by 2022 from 3 plants. 

This new joint-venture follows the joint-venture agreement signed in July 2017 between Faurecia and Wuling Industry, covering Seating activity. 

Patrick Koller, CEO of Faurecia Group declares: "The joint-venture with Wuling Industry is a new step forward in Faurecia's strategy to establish robust and sustainable relationships with leading Chinese OEMs. It will contribute to our ongoing strong growth and enable Faurecia to expand its technology offer in China for Smart Life on Board."

Established in 2007, Liuzhou Wuling Industry Co, Ltd is jointly owned by Guangxi Auto Group Co., Ltd and Wuling Motor Holdings Limited, specialized in auto parts, engines and specialty auto design & manufacturing. It business covers both auto parts and OEM manufacturing with facilities based in Liuzhou, Qingdao and Chongqing. The annual sales are over RMB 10 billion.

About Faurecia

Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 330 sites including 30 R&D centers, 100 000 employees in 34 countries, Faurecia is now a global leader in its three areas of business: automotive seating, interior systems and clean mobility. Faurecia has focused its technology strategy on providing solutions for smart life on board and sustainable mobility.  In 2016, the Group posted total sales of €18.7 billion. Faurecia is listed on the NYSE Euronext Paris stock exchange. For more information, visit www.faurecia.com    

SOURCE Faurecia

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