FAURECIA : Faurecia signs joint-venture agreement with Chang'an Automobile Group

  FAURECIA : Faurecia signs joint-venture agreement with Chang'an Automobile

                                              Shanghai (China), April 20, 2013

Faurecia signs joint-venture agreement with Chang'an Automobile Group

Faurecia, the world's sixth largest automotive equipment supplier, and Chinese
automobile manufacturer  Chang'an Automobile  Group,  one of  China's  largest 
automobile groups, today signed  an agreement for the  establishment of a  new 
50/50 joint-venture, CSM  Faurecia Automotive Systems  Company Ltd (CFAS)  for 
automotive  interiors.  The  signing  of  the  agreement  today  in   Shanghai 
establishes  the  partnership   between  both   parties  and   is  a   further 
demonstration of  Faurecia's  ongoing  commitment to  the  Chinese  automotive 

The new joint-venture has a total planned investment in excess of €35 million
(CNY 293 million), which will be contributed equally by both shareholders  and 
will cover  the  new  industrial  sites, equipment  and  process,  design  and 
development as well as tooling costs. The CFAS joint-venture will focus on the
development, manufacturing  and  delivery of  automotive  interior  equipment, 
including:  instrument  panels,  door  panels,  center  consoles  and  cockpit 
modules. With this  agreement, the joint-venture  will strengthen and  broaden 
the technical cooperation between Faurecia and Chang'an.

The customers to be served by CFAS  are primarily Chang'an Ford (CAF) as  well 
as Chang'an  Peugeot and  Citroën (CAPSA),  with which  the joint-venture  has 
already secured new business programs. Within the scope of the agreement,  the 
partners will  establish new  manufacturing plants  in Shenzhen  and  Hangzhou 
while transferring  the  existing  Faurecia  plant in  Chongqing  to  the  new 

"China has already developed into the  world's largest auto market with  solid 
growth perspectives. In  2012, Faurecia's growth  outpaced vehicle  production 
growth and enjoyed  a 25%  sales increase in  this dynamic  market. We  highly 
value such partnership  opportunities in  China to further  expand our  strong 
foothold in the Chinese automotive market," said Yann Delabrière, Chairman and
CEO of Faurecia.

Jean-Michel Vallin, President of Faurecia China, said, "This new joint-venture
agreement with Chang'an  further strengthens Faurecia's  tight links with  its 
Chinese customers.  We will  support Chang'an  and its  automaker partners  to 
develop recognized brands with our best-in-class vehicle interior technologies
and expertise."

"We are confident in  the success of  this new joint-venture  and also in  the 
future perspectives of the cooperation between Chang'an and Faurecia," said Xu
Liuping, Chairman of  Chang'an. "We  believe that  with Faurecia's  innovative 
concepts  and   best-in-class  solutions,   we   will  further   enhance   our 
competitiveness and better achieve  our goal of becoming  a leading brand  not 
only in the Chinese market but also in the global automotive market."

Faurecia has been  operating in China  for almost 20  years and has  developed 
fast within  China's booming  automotive industry  and considers  the  Chinese 
market a  major priority.  It currently  employs 8,000  people, including  600 
engineers, and is  present in  all the main  automotive regions  in China.  In 
2012,  sales  in  China  reached  €1.5  billion,  up  25%  compared  to  2011 
outperforming local vehicle  production growth. In  2012, Faurecia signed  new 
contracts in China worth €2.3  billion. To accommodate such rapid  expansion, 
the Group opened four  new factories bringing  the total to 35  at the end  of 
2012, and targets the operation of 55 plants by 2016. Faurecia expects to more
than double  its sales  in China  by  2016 to  reach €3.3  billion.  Faurecia 
supplies all major car manufacturers based in China, including Chinese brands.

Chang'an Automobile Group,  founded in December  2005, is one  of China's  top 
four automobile groups, with four  key businesses: vehicles, powertrain,  auto 
parts and commerce and trade service. It has nine vehicle production bases  in 
Chongqing, Heilongjiang, Hebei, Jiangxi,  Jiangsu, Anhui, Zhejiang,  Guangdong 
and Beijing, as  well as 33  vehicle and engine  factories and 19  subordinate 
companies. It has formed a wide range of product lineages, covering  passenger 
and commercial vehicles, and an engine platform with displacement ranging from
0.8L to 2.5L. At the  same time, when developing  its own brand, Chang'an  has 
developed intensive cooperation  in the  vehicle area  with global  well-known 
automakers, such as Ford, Mazda, Suzuki  and PSA Peugeot Citroën. It has  also 
established capitalistic partnerships in auto parts area with TRW, Mitsubishi,
Showa Denko, Air International Group and  GKN. In 2012, Chang'an sold a  total 
of 1.95 million cars, ranking fourth in the Chinese auto industry, with  total 
revenues of CNY 131.8 billion (€16.2 billion).

About Faurecia

Faurecia is the world's sixth-largest automotive equipment supplier with  four 
key Business  Groups:  Automotive  Seating,  Emissions  Control  Technologies, 
Interior Systems and  Automotive Exteriors.  In 2012, the  Group posted  total 
sales of €17.4 billion. At December 31, 2012, Faurecia employed 94,000  people 
in 34 countries at 320 sites, including 30 R&D centers. Faurecia is listed  on 
the NYSE Euronext Paris stock exchange and trades in the U.S. over-the-counter
(OTC) market. For more information, visit: www.faurecia.com

Faurecia     Media                        Analysts/Investors
Contacts                                  Eric-Alain Michelis
             Olivier Le Friec             Director of Financial Communications

             Head of Media Relations          Tel.: +33 1 72 36 75 70

             Tel: +33 1 72 36 72 58           Cell: +33 6 64 64 61 29

             Cell: +33 6 76 87 30 17      eric-alain.michelis@faurecia.com

Chang'an     Media                        Analysts/Investors
contacts                                  Li Xin
             Liang Guiyou
                                              Tel.: +86 (010) 6896342
             Tel: +86 (010) 68966350
                                              Cell: +86 186 0004 7176
             Cell: +86 138 0123 2579

English news release


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