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

FAURECIA (EO)

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Faurecia To Buy Ford, ACH Interior Components Business

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05/03/2012 | 01:53pm CEST

French auto parts maker Faurecia SA (>> FAURECIA) 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 (>> PEUGEOT), 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; [email protected]

Stocks mentioned in the article : FAURECIA, PEUGEOT
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Financials (€)
Sales 2017 19 961 M
EBIT 2017 1 070 M
Net income 2017 575 M
Debt 2017 187 M
Yield 2017 2,18%
P/E ratio 2017 11,11
P/E ratio 2018 9,97
EV / Sales 2017 0,33x
EV / Sales 2018 0,32x
Capitalization 6 416 M
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Mean consensus HOLD
Number of Analysts 19
Average target price 48,1 €
Spread / Average Target 3,5%
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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
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