FAURECIA : Faurecia signs cooperation agreement with FAW Foundry for the development of magnesium alloy seat frames Nanterre (France), July 15, 2013 Faurecia signs cooperation agreement with FAW Foundry for the development of magnesium alloy seat frames Faurecia, the world's sixth largest automotive equipment supplier, signed a three-year cooperation agreement with FAW Foundry in Changchun (China), for the development of magnesium alloy seat frames. The agreement, signed in the presence of Yann Delabrière, Chairman and CEO of Faurecia, Jean-Michel Vallin, President of Faurecia China, and Sun Feng, General Manager of FAW Foundry, marks a new milestone in Faurecia's business and technology development in the seat frames business and with China's FAW Group. Through this project, Faurecia expects to further cut-down the weight of automotive seats, reducing the environmental impact as well as to consolidate its leading position in automotive seating. "The challenge of reducing emissions calls for new breakthrough innovations in the automotive industry, particularly in the field of weight reduction. Magnesium alloy seat frames potentially offer a 25% weight reduction compared with state of the art steel frames. This breakthrough development will also allow both Faurecia and FAW Foundry to be in a leading position worldwide for this promising material and its processes as it opens a potentially important market.," said Jean-Michel Vallin, President of Faurecia China. "We are eager to start cooperating with Faurecia, the world's number one in automotive seat frames and mechanisms and also a long-term partner of FAW Group Corporation. We believe that this will be a win-win partnership and enable us to contribute to a greener automotive industry," said Sun Feng, General Manager of FAW Foundry. Faurecia is a global leader in automotive seating and is #1 worldwide for seat frames and mechanisms and #3 worldwide for complete seats. FAW Foundry, Faurecia's partner, is wholly-owned by China FAW Group Corporation and currently the largest auto casting manufacturer in China. Technologies for vehicle weight reduction can be found across all four Faurecia activities, namely: oAutomotive Seating: use of high strength steel, downsizing of mechanisms and other seating components, laser welding and composite materials; oInterior Systems: introduction and broadened use of renewable and natural materials; oEmissions Control Technologies: thinner steel and new processes such as laser welding and induction brazing; oAutomotive Exteriors: composite materials for body parts, semi-structural and structural parts. 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 8,500 people, including 700 engineers, and is present in all the main automotive regions in China. 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 ($22.5 billion). At December 31, 2012, Faurecia employed 94,000 people in 34 countries at 320 sites, including 30 R&D centers and 5,500 engineers. Faurecia's four core businesses all have an established presence in the Chinese market. Faurecia China is headquartered in Shanghai and has more than 8,500 employees, including 700 technicians and engineers, 39 industrial sites and four R&D centers. In 2012, Faurecia China's sales totaled €1.5 billion. Visit us at: www.faurecia.com Contacts Media Analysts/Investors 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 firstname.lastname@example.org email@example.com English news elease ------------------------------------------------------------------------------ This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: FAURECIA via Thomson Reuters ONE HUG#1716422
FAURECIA : Faurecia signs cooperation agreement with FAW Foundry for the development of magnesium alloy seat frames
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