Faurecia: creation of a joint venture in China.
(CercleFinance.com) - Faurecia had announced the creation of a joint venture in China with Liuzhou Wuling Industry, called Faurecia Liuzhou Automotive Seating, which will develop, manufacture and deliver car seat components for SGMW's affiliated brands and for other clients.
Based in southern China, it will produce complete seats, structures and other seat components for SGM Wuling from three existing plants and another that will soon to be built. Its annual turnover is expected to reach 1.8 billion yuan (approx. 230 million euros) by 2022.
This strategic partnership will contribute to our profitable growth in China, with the Group aiming to achieve 20% of its sales with Chinese automakers by 2018 and 30% by 2020, said Hagen Wiesner, Executive Vice President of Faurecia Seating.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Based in southern China, it will produce complete seats, structures and other seat components for SGM Wuling from three existing plants and another that will soon to be built. Its annual turnover is expected to reach 1.8 billion yuan (approx. 230 million euros) by 2022.
This strategic partnership will contribute to our profitable growth in China, with the Group aiming to achieve 20% of its sales with Chinese automakers by 2018 and 30% by 2020, said Hagen Wiesner, Executive Vice President of Faurecia Seating.
Copyright (c) 2017 CercleFinance.com. All rights reserved.