Nanterre, France-Automotive supplier Faurecia announced 23 Jan that it has bought a 50 percent stake in Euro Auto Plastic Systems (Euro APS), a Romanian producer of automotive plastic components. The half share was formerly owned by Portuguese automotive supplier Simoldes Plasticos.
Faurecia and Croatian car part maker AD Plastik now each own 50 percent of Euro APS, the group said, adding that Faurecia is to be responsible for the operational management of the joint venture.
With this deal, Faurecia will be able "to considerably broaden the scope of its work for the Renault group, particularly for the Dacia Logan," the French supplier of seating, interiors and other automotive parts said.
Euro APS's product range includes instrument panels, door panels, bumper systems, headliners, carpeting and acoustic trim for the Dacia plant in Pitesti, Romania, which works mainly on the Dacia Logan, Faurecia said.
The Romanian company had sales of €58 million in 2006 and employs 680 people.For the Dacia Logan, Faurecia pointed out, it already supplies complete seating systems, exhaust systems and instrument panels in Brazil. It also makes instrument panels, door panels and bumper systems in Russia through Technoplast, a joint venture with a local partner, controlled by Faurecia. Other projects are being finalised, Faurecia added.
Faurecia specialises in six vehicle modules: seats, cockpits, doors, acoustic modules, front ends and exhaust systems. In 2005, the Group posted sales of Euro 11 000 million. It has operations in 28 countries, and employs 60 000 people at 160 sites. "