A Plastics News report
Nanterre, France-- French automotive supplier Faurecia SA has signed a new joint venture in China, the company's third since the beginning of 2010.
The new deal, announced 24 Jan, is with Ningbo Huazhong Plastic Products Co. Ltd, a privately owned manufacturer based in Ningbo.
The venture includes a plant in Changchun, Jilin province, which already supplies bumpers to FAW-Volkswagen Automotive Co.'s plant in Changchun.
According to Nanterre-based Faurecia, the joint venture will supply bumpers to FAW-VW's Volkwagen Magotan (the Chinese Passat), and soon will also supply bumpers for the Audi A6. The Changchun JV plant employs 334 people.
Faurecia will be in charge of the management of the new joint venture.
Last year Faurecia signed two joint-venture deals in China: one with Zhejiang Geely Holding Group Co. and Zhejiang Linmin Group Co., which makes interior and exterior components for Geely's own-brand models; and one with Xuyang Group that makes seats and other components for FAW Group.
Faurecia now has more than 4000 employees, 17 plants and four research and development centres in China. The company generated sales of Euro 670 million ($913 million) in China in 2009, and it expects to reach Euro 17 000 million ($23 166 million) by 2014."