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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 19 937 M
EBIT 2017 1 068 M
Net income 2017 573 M
Debt 2017 223 M
Yield 2017 2,27%
P/E ratio 2017 10,75
P/E ratio 2018 9,77
EV / Sales 2017 0,32x
EV / Sales 2018 0,30x
Capitalization 6 187 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 46,0 €
Spread / Average Target 2,7%
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Managers
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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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