Faurecia Takes 50% Stake in Automotive Supplier Simoldes Plasticos

Faurecia has just taken over the 50% interest owned by the Portuguese automotive supplier Simoldes Plasticos in the share capital of Romanian company Euro Auto Plastic Systems (Euro APS). Faurecia and the Croatian car components manufacturer AD Plastik now each hold 50% of Euro APS's capital, with Faurecia taking full responsibility for the operational management of the joint venture. This acquisition enables Faurecia to considerably broaden the scope of its work for the Renault group, particularly for the Dacia Logan.

Euro APS manufactures and delivers instrument panels, door panels, bumper systems, headliners, carpeting and acoustic trim for the Dacia plant in Pitesti, which works mainly on the Dacia Logan. Sales amounted to €58 million in 2006 and the plant employs 680 people.

For the Dacia Logan program, Faurecia already delivers complete seating systems, exhaust systems and instrument panels in Brazil, and instrument panels, door panels and bumper systems in Russia through Technoplast, a joint venture with a local partner that is controlled by Faurecia. Other projects are being finalized.

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