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)
Mes dernières consult.
Most popular
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 CEST
The exhaust of a Porsche is seen smoulding in Munich

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
10/17 FAURECIA NORTH AMERICA EMPLOYEES FEE : More Than 1 Million Meals Donated
10/12 FAURECIA : Strong organic* growth at +10.7% in Q3 ; Increased outperformance vs...
10/12 FAURECIA : Strong organic* growth at +10.7% in Q3 ; Increased outperformance vs...
10/11 FAURECIA : MAHLE - Faurecia and MAHLE to collaborate on technologies for thermal..
10/10 FAURECIA : and MAHLE to collaborate on technologies for thermal management of th..
10/09FAURECIA SA : quaterly sales release
09/28 FAURECIA : Patent Issued for Vehicle Trim Element (USPTO 9767942)
09/27 LECTRA : Lectra and Faurecia renew their partnership agreement
09/21 FAURECIA : Cooperation Between ZF and Faurecia Gains Momentum with 'Cockpit 2025..
09/19 FAURECIA : Clearwater International China advises Faurecia on its cross-border a..
More news
News from SeekingAlpha
10/13 Faurecia (FURCY) Q3 2017 Sales Call - Slideshow
07/28 Peugeot Is 46% Net Cash And Has A Solid Balance Sheet
07/21 Faurecia SA ACT 2017 Q1 - Results - Earnings Call Slides
07/21 Faurecia SA ACT reports 1H results
06/27 Faurecia S.A. (FURCF) Investor Presentation - Slideshow
Financials (€)
Sales 2017 19 077 M
EBIT 2017 1 112 M
Net income 2017 601 M
Debt 2017 322 M
Yield 2017 1,74%
P/E ratio 2017 13,98
P/E ratio 2018 12,38
EV / Sales 2017 0,46x
EV / Sales 2018 0,44x
Capitalization 8 399 M
Chart FAURECIA
Duration : Period :
Faurecia Technical Analysis Chart | EO | FR0000121147 | 4-Traders
Technical analysis trends FAURECIA
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Average target price 54,7 €
Spread / Average Target -10%
EPS Revisions
Managers
NameTitle
Patrick Koller Chief Executive Officer & Director
Michel de Rosen Chairman
Michel Favre Group Chief Financial Officer & EVP
Robert Peugeot Non-Independent Director
Jean-Baptiste Chasseloup de Chatillon Non-Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
FAURECIA64.54%9 886
CONTINENTAL17.23%50 554
DENSO CORP12.78%40 146
DELPHI AUTOMOTIVE PLC44.74%26 047
HYUNDAI MOBIS CO., LTD.--.--%20 739
MAGNA INTERNATIONAL INC.14.02%19 536