Freudenberg strengthens its car floor mat business

Japan Vilene Company signs an agreement to acquire Hanns Glass Group in Germany

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Freudenberg, the global technology company, is further expanding its car floor mat business. In Germany, the Japan Vilene Company, a Freudenberg Business Group, has signed an agreement to acquire Hanns Glass GmbH & Co. KG, Grafing, Germany. This company is a leading global automotive supplier of car floor mats, having a strong European presence with a portfolio complementary to VIAM, which is a core business of Japan Vilene Company. In 2016, the company generated about 31 million euros in sales and has some 260 employees. The transaction is conditional upon approval from the German Federal Cartel Office and is expected to be completed in the second quarter of this year.

“With the acquisition of the Hanns Glass Group, the VIAM Group will gain access to the European automotive market and, in the future, will be able to supply European carmakers from local production sites,” says Freudenberg Group CEO, Dr. Mohsen Sohi.

The Hanns Glass Group is headquartered in Grafing, near Munich, and has production sites in Paderborn and Meuselwitz, Germany, and Cheb, Czech Republic. These sites will serve as the VIAM Group’s European base.

Source: Freudenberg

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Faurecia inaugurates new plant in Morocco to support the growth of its Seating business

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Faurecia opened a new seating plant in Morocco today. The official inauguration ceremony in Salé was attended by Moulay Hafid Elalamy, Minister for Industry, Trade, Investment & the Digital Economy, and Patrick Koller, Chief Executive Officer of Faurecia.

Faurecia has invested 170 million dirhams in the new 12,800 square meter site, leading to the creation of 1,300 jobs with a potential 500 additional employees in the future. The plant has a daily production output of 10,000 leather and fabric seat covers, in particular for the Peugeot 3008 and 5008. The level of employee training, their established expertise in textiles, and the site’s state-of-the-art digital production system make Salé a benchmark for the industry.

On this occasion, Mr. Secretary El Alamy assured that “the industrial partnership engaged with Faurecia is creating value for the development and the performance of our car industry. By renewing the choice of Morocco, Faurecia participates actively in the deployment of the vision for the sector: enrich local value chains and strengthen our production network.”

Patrick Koller, Chief Executive Officer of Faurecia declared: “Today’s event is a milestone in Faurecia’s history in Morocco, where we have been operating since 2009. Morocco is a strategic hub close to our customers and is an ideal base for the development of our business. We plan to strengthen our presence in the country by opening a third manufacturing site in Kenitra for our Interiors and Clean Mobility businesses in 2018.

With the Kenitra and Salé sites in Morocco, and the Ben Arous site in Tunisia, Faurecia is the leading manufacturer of automotive seat covers in North Africa

About Faurecia

Faurecia is the 8th largest international automotive parts manufacturer in the world; in 2013 it was #1 for vehicle interiors and emission control technology. One in four automobiles is equipped by Faurecia. It designs and manufactures seats, exhaust systems, interior systems (dashboards, centre consoles, door panels, acoustic modules) and decorative aspects of a vehicle (aluminium, wood).

Via: Faurecia Press Release

Gestamp launches its first hot stamping plant in India

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Gestamp, a Spanish multinational company specialised in the design, development and manufacture of metal components for the automotive industry, has launched a new plant specialised in hot stamping in Pune (India). The company has invested €36 million in the new facility that will provide services for Fiat Chrysler Automobile (FCA), Ford and Tata.

The company announced this investment at the Symposium on International Automotive Technology (SIAT) which was held in Pune. The new plant, the construction of which has been completed, has begun to manufacture previous series and is scheduled to begin serial production in May this year.

The new Pune plant will employ 130 people in 2017 and will involve the introduction of hot stamping in the country. The launch of this technology in India by Gestamp will enable the latter to provide much of its industrial capabilities in this market.

Loire Gestamp, a company from the Group specialising in the design and manufacture of press lines, has installed in the new plant a hot stamping line with a 1,200 ton press, incorporating automatic connections for changing tools, thermal imagers and a monitoring system.

In this regard, the Chairman and CEO of Gestamp, Francisco Riberas, remarked: “The installation of a technology such as hot stamping is synonymous with the confidence our company has in a very dynamic market such as India’s, in which regulatory changes aiming to improve the safety of vehicles in case of collision will demand new solutions from manufacturers and suppliers.”

The third Gestamp plant in India

Gestamp’s new plant in India is the third in this market, where €150 million have been invested since the group’s arrival in 2008. In addition, the company has an R&D centre in which work is carried out to lighten the weight of vehicles, thereby increasing their safety.

The Spanish multinational is already working with Ford, Volkswagen Skoda, Renault Nissan and FCA in India. Since Gestamp began operations in India, its turnover has increased almost nine-fold, from €19 million in 2008 to €157 million in 2015.

The Indian automotive market is the sixth largest market worldwide. It has experienced, according to IHS, a year-on-year increase in production volume of 8.7% since 2008. This growth is more than double the global growth accumulated during the same period, situated at 3.9%.

A global provider in hot stamping

Hot stamping is one of the solutions that allow manufacturers to reduce the weight of the body in white structure, resulting in reduced emissions. In addition, the hot stamping process improves the vehicle’s behaviour in case of collision and contributes to passenger safety.

Gestamp is one of the world’s largest providers of parts made by hot stamping, with an industrial model that covers the entire value chain, including press lines and dies manufacturing.

The company has more than 70 hot stamping lines around the world. Thanks to this technology, the weight of body in white parts is reduced by up to 30%.

Via Gestamp press release

Faurecia ups it’s Earnings Guidance after seeing a strong first half in 2016

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Driven by strong organic growth in Europe, Faurecia’s profitability in the first half of 2016 exceeded expectations encouraging the company to up the earnings guidance for the next quarter.

French car parts supplier raised its full-year guidance on profit and cash generation after reporting a stronger first-half performance in Europe.

European carmakers have been upgrading their European auto market forecasts since the start of the year as the recovery in demand gathers pace.

Faurecia’s operating income rose to 490 million euros ($539.2 million), or 5.1 percent of total sales, over the first six months of the year compared with 384 million euros a year ago.

“Faurecia’s robust profitability in the first half of 2016 … was driven by a strong organic growth in Europe, clearly outperforming automotive production, a profitability breakthrough in North America and robust profitability in Asia,” Chief Executive Patrick Koller said in a statement on Monday.

Faurecia, which is 47 percent owned by French carmaker PSA Peugeot Citroen, said it expected operating margin on total sales of no less than 5 percent, versus its previous guidance of 4.6 to 5 percent.

The company also targeted net cash flow of minimum 300 million euros, compared with its earlier expectation of around 300 million euros.

Faurecia confirmed its guidance on total sales growth in 2016 of 1 to 3 percent.

via: Reuters