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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 CET

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; inti.landauro@dowjones.com

Stocks mentioned in the article : FAURECIA, PEUGEOT
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Financials (€)
Sales 2016 18 816 M
EBIT 2016 965 M
Net income 2016 605 M
Debt 2016 307 M
Yield 2016 2,25%
P/E ratio 2016 9,25
P/E ratio 2017 10,17
EV / Sales 2016 0,31x
EV / Sales 2017 0,28x
Capitalization 5 475 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 40,8 €
Spread / Average Target 2,7%
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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
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