Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Euronext Paris  >  Faurecia    EO   FR0000121147

FAURECIA (EO)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

EU competition watchdog raids vehicle exhaust makers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/25/2014 | 06:59pm CET

EU competition regulators have raided several car parts makers involved in producing vehicle exhaust systems, including French firm Faurecia (>> FAURECIA), Germany's Eberspaecher Group and TenneCo (>> Tenneco Inc) of the United States, as part of a wider probe into suspected price fixing in the auto industry.

EU competition regulators have raided several car parts makers involved in producing vehicle exhaust systems, including French firm Faurecia (>> FAURECIA), Germany's Eberspaecher Group and TenneCo (>> Tenneco Inc) of the United States, as part of a wider probe into suspected price fixing in the auto industry.

Regulators in the United States, Japan, Europe and Canada have already levied multi-dollar fines in recent years against various car parts makers for fixing prices of various products including seatbelts, radiators, windscreen wipers and air conditioning systems.

The European Commission said on Tuesday the companies targeted in the latest investigation into the exhaust systems market may also have operated a cartel and abused their dominance. It did not name the companies nor the countries where the raids took place, in line with its usual policy.

However, Faurecia, which is 52-percent owned by French carmaker Peugeot Citroen (>> PEUGEOT), confirmed the raid.

"The European Commission antitrust authorities have launched investigations into suppliers of emission control systems," the company said. "Faurecia is cooperating fully with the European Union authorities."

Meanwhile TenneCo (>> Tenneco Inc) said the EU regulator raided its Edenkoben administrative facility in Germany and that it had also received a related subpoena from the U.S. Department of Justice.

"The company is fully cooperating with the authorities," TenneCo said.

Eberspaecher, which is based in Esslingen, near Stuttgart, has around 7,300 employees and generated sales of more than 2.8 billion euros ($38.59 billion) in 2012, also confirmed the EU raids.

A spokesman for Belgian car parts supplier Bosal said his company was not involved in the EU investigation.

The Commission, which can fine companies up to 10 percent of their global turnover for breaching EU rules, is investigating suspected cartels involving more than 100 vehicle components made by more than 70 companies.

Earlier this month it hit German engineering group Schaeffler, Sweden's SKF (>> AB SKF) and three Japanese car parts makers with a total 953.3 million-euro fine for operating a cartel for car and truck ball bearings.

(Reporting by Foo Yun Chee, Robert-Jan Bartunek, Laurence Frost in Paris and Bernie Woodall in Detroit, Edward Taylor and Ilona Wissenback in Stuttgart; Editing by Robin Emmott and Greg Mahlich)

By Foo Yun Chee

Stocks treated in this article : FAURECIA, PEUGEOT, Tenneco Inc, AB SKF
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FAURECIA
03/23 GLOBAL AUTOMOTIVE EGR SYSTEM MARKET : BorgWarner, Cummins, Delphi Automotive, F..
03/16 FAURECIA : Patent Issued for Vehicle Seat and Torsion Bar (USPTO 9586503)
03/16 FAURECIA : Wins Two Awards For Its Lightweight Solutions At The JEC World 2017 I..
03/16 FAURECIA : wins two awards for its lightweight solutions at JEC World 2017 Innov..
03/15 FAURECIA : 's car seat concept Active Wellness 2.0 wins at iF DESIGN award
03/10 FAURECIA : Automotive Door Module Market 2017 - Faurecia, Inteva Products, Kuest..
03/10 FAURECIA : Patent Issued for Air Outlet Device for Motor Vehicle Comprising a De..
03/10 FAURECIA : Auto supplier will hire up to 144 at new Allen County plant
03/09 FAURECIA : equipped Peugeot 3008 is crowned 2017 Car of the year
03/06 ÉMISSIONS DE CO2 : la guerre des grammes fait rage dans l'automobile
More news
Sector news : Auto, Truck & Motorcycle Parts - NEC
03/24 Infineon raises 2017 outlook on stronger automotive orders
03/22DJCUMMINS : Randall & Quilter Acquires Captive Insurer ICDC
03/17DJJOHNSON CONTROLS INTERNATIONAL : 3M Adds To Safety Business With Deal -- WSJ
03/16DJJOHNSON CONTROLS INTERNATIONAL : 3M Buys Personal-Safety Unit from Johnson Contr..
03/16 3M to buy Johnson Controls' safety gear business for $2 billion
More sector news : Auto, Truck & Motorcycle Parts - NEC
News from SeekingAlpha
02/09 Faurecia's (FURCF) CEO Patrick Koller on Q4 2016 Results - Earnings Call Tran..
02/09 Faurecia SA ACT reports FY results
02/09 Faurecia SA ACT 2017 Q2 - Results - Earnings Call Slides
01/13 HELLA : An Underfollowed Value Company With High Visibility
2016 Faurecia's (FURCF) Q3 2016 Results - Earnings Call Transcript
Advertisement
Financials (€)
Sales 2017 18 979 M
EBIT 2017 1 044 M
Net income 2017 570 M
Debt 2017 140 M
Yield 2017 2,42%
P/E ratio 2017 10,24
P/E ratio 2018 9,36
EV / Sales 2017 0,31x
EV / Sales 2018 0,29x
Capitalization 5 791 M
More Financials
Chart FAURECIA
Duration : Period :
Faurecia Technical Analysis Chart | EO | FR0000121147 | 4-Traders
Full-screen chart
Technical analysis trends FAURECIA
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 44,3 €
Spread / Average Target 5,5%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Patrick Koller Chief Executive Officer
Yann Delabrière Chairman
Michel Favre Group Chief Financial Officer & EVP
Robert Peugeot Non-Independent Director
Lee M. Gardner Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
FAURECIA14.02%6 251
CONTINENTAL AG8.68%43 106
JOHNSON CONTROLS INTER..0.07%38 694
DENSO CORP0.63%36 327
HYUNDAI MOBIS CO., LTD..--.--%21 587
DELPHI AUTOMOTIVE PLC17.15%21 224
More Results