Faurecia To Buy Ford, ACH Interior Components Business
03 May 2012 - 10:07PM
Dow Jones News
French auto parts maker Faurecia SA (EO.FR) said Thursday it
will buy an interior components business based in Michigan and
operated by Ford Motor Co. (F) and Automotive Components Holdings
LLC for an undisclosed amount.
Faurecia, which is 57.4% owned by car maker Peugeot Citroen SA
(UG.FR), said the components business generated annual sales worth
$1.1 billion. With the new acquisition, Ford becomes Faurecia's
third-largest customer.
Faurecia said the deal won't have a significant impact on its
debt and cash position.
Faurecia also said it will set up a joint venture with Rush
Group Ltd. which will be called Detroit Manufacturing Systems,
which will manufacture car interior components in a new factory in
Detroit. Rush Group will control the new venture and will operate
it, while Faurecia will hold a 45% stake.
-By Inti Landauro, Dow Jones Newswires; +33 1 4017 1740;
inti.landauro@dowjones.com
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