By Dustin Walsh, Crain's Detroit Business
Auburn Hills, Michigan -- Faurecia North America today said it will supply several parts for the 2012 Volkswagen Passat.
Auburn Hills-based Faurecia, the North American headquarters of France-based Faurecia SA, will supply instrument panels, front- and back-seat systems and exhaust systems to VW's new plant in Chattanooga, Tennessee, where the Passat will be assembled.
Volkswagen is Faurecia's largest customer worldwide, representing 24.4 percent of its sales.
The parts will be supplied from 10 plants, including Faurecia's Fraser interior systems plant.
The announcement comes a week after Faurecia received a $4.3 million tax credit from the Michigan Economic Growth Authority to expand the Fraser plant and the supplier's Auburn Hills technical centre.
Faurecia plans to spend $19.3 million on the project and add 428 jobs.
In February, Faurecia's emissions unit expanded with the $323 million acquisition of Troy-based Emcon Technologies llc. Faurecia predicted the acquisition would provide 7 percent revenue growth annually.
Faurecia North America generated revenue of $3400 million in 2010.