INTERIORS: Faurecia in J-V with Howa Textile
Thursday, April 19th, 2012
Tier I supplier Faurecia has signed a joint venture agreement with Japan's Howa Textile Industry Co., Ltd. to develop vehicle interior systems, including door panels, in-vehicle insulation, soft trim and roof trim, primarily for Nissan Motor Co.
To be located at Atsugi, Japan, the 50-50 venture operating as FHI, will have the partners splitting their manufacturing on a global basis, with the exception of Mexico and China, where the partners will establish joint manufacturing business units.
Specifically, FHI will support manufacturing activity in the following regions and countries: North America (Mexico, USA), Europe (UK, Russia and Spain), Asia (Japan, China, India, Indonesia, Malaysia, Taiwan and Thailand), South America (Argentina and Brazil) as well as in South Africa. Based on current assumptions, FHI targets 100 million euro Nissan sales by its parent companies by 2016. First business awards have already been booked for a new global vehicle to be assembled at five different locations in Mexico, Thailand, South Africa, Spain and South America. Total targeted production of this new vehicle is expected to exceed 400,000 units per year.
“Faurecia’s interior systems business is expected to grow substantially with Nissan over the coming years, thanks to this new partnership with Howa Textile, a key established Japanese partner. Faurecia Howa Interiors will be targeting new Nissan ‘Power 88’ opportunities in global automotive markets,” said Yann Delabrière, chairman and CEO of Faurecia. “With this new agreement, our global Nissan business relationship is reaching new heights.”
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