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Faurecia is the 8th largest international automotive parts manufacturer in the world. It produces 6 types of car modules: seats, cockpits, doors, acoustic packages, front end and exhaust, in the US, Faurecia provides parts for GM, Chrysler, and Ford and for European and Japanese carmakers. Headquartered in Nanterre, Francemarker, Faurecia operates over 190 production sites and 28 R&D centers in 29 countries worldwide. About half of these sites are manufacturing plants operatong on the just-in-time principle. Faurecia joined the United Nations Global Compact in 2004. French car manufacturer PSA Peugeot Citroën is Faurecia's controlling shareholder, holding around 71% stake. This will reduce to 57.4 percent of Faurecia's capital following the acquisition of EMCON in 2010.

History

The expertise of the Faurecia Group has a history which is closely intertwined with the history of French industrialization extending back to the year 1810.

In 1810 the brothers Jean-Pierre and Frédéric Peugeot opened with Jacques Maillard-Salins, a steel foundry for the manufacture of saw blades in Hérimoncourt, a village in eastern France. Within a few years, they were active in the field of tool manufacturing, and opened factories in the region of Montbéliard. From 1850 onwards, more businesses were added, with the famous Peugeot lion first appeared on tools in 1858. After Peugeot had invented the tricycle in 1880, the company began only a year later with modern automobile production.

Bertrand Faure opened 1914 his first workshop, which produced seats for the Paris Metro trams. Fifteen years later the company acquired the license for a novel method with which he managed to produce the novel product of the spring mattress and perfect seats for the automotive industry. The business sectors of the manufacturing headquarters for trams and cars evolved very quickly after World War II. In the second half of the 20th century, the company expanded in the market for the manufacture of automotive parts, which included, inter alia, seats, exhaust systems and steering columns. In 1987, Peugeot merged the daughter companies AOP (Aciers & Outillages Peugeot - Peugeot steel and tools) and Cycles Peugeot and eventually formed the new company ecia (Equipements et Composants pour l'Industrie Automobile - Equipment and components) for the automotive industry.

On December 11, 1997, Bertrand Faure launched a takeover bid in which it wanted to increase its direct and indirect shares in Ecia to 99 percent. This was the birth of the Faurecia Group. The merger and creation of the Faurecia group took place two years later and resulted in a business with 32,000 employees, a turnover exceeding 4 billion euros and an international presence. In 1999, Faurecia acquired the American company AP Automotive Systems, and was thus able to expand its business for exhaust systems on the North American market. Another acquisition that followed was Sommer Allibert, a company that specialized in vehicle interiors, only a year later.Because of the broad establishment of Sommer Allibert business branch in Germany and Spain in Europe, Faurecia possession of significant market share especially in the area of door panels, instrument panels and acoustic packages. The acquisition was financed through the parent company, PSA Peugeot Citroën, which increased its shareholding in Faurecia to 71.5 percent.

In 2006, their Chairman and Chief Executive, Pierre Levi resigned amidst bribery investigations.

In November 2009, Faurecia announced that they had signed a deal to acquire EMCON Technologies , an integrator of emissions control technologies for passenger and commercial vehicles. Faurecia will buy the Troy, Michigan-based emission control technologies group for 20.9 million new Faurecia shares, cutting Peugeot's Faurecia stake to 57.4% from 70.85%. Once the deal is completed in 2010, EMCON Technologies will immediately join Faurecia's Exhaust Systems to form Faurecia Emissions Control Technologies, which will be the world leader in emissions control technologies.

Research and Development

The group's research is focussed on six areas: quality and comfort, safety, environmental protection, cost reduction and integration capability. Overall, the company employs 3500 engineers and technicians in 28 research and development centers.

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