Magneti Marelli and Faurecia have started their joint-venture delivering interior and exterior parts for vehicles assembled at the new Fiat Chrysler Automobiles plant in Goiana (Pernambuco, Brazil).
Named FMM Pernambuco Componentes Automotivos Limitada, the joint-venture is initially majority-owned by Magneti Marelli (65%), while Faurecia holds 35%. The joint-venture targets annual sales of more than EUR200m (US$225m) mark in the long run.
The joint-venture manufactures vehicle interior parts including instrument panels, cockpits, centre consoles and door panels, as well as exterior parts such as bumpers and spoilers.
In Goiana, the new plant is set-up in the supplier park located within the Fiat Chrysler Automobiles plant area, along with other key tier one suppliers and has started delivering parts for the Jeep Renegade.
“Brazil is for us a benchmark market we have been operating in since 1978 and where we have a significant industrial presence,” said Magneti Marelli CEO, Eugenio Razelli.
In Brazil since 1978, Magneti Marelli has around 9,000 employees with 16 production units and five R&D centres, with a turnover in Brazil of some EUR820m.
Faurecia has been present in Brazil since 1997 and currently employs 3,400 people at 15 plants and three R&D centres generating sales of EUR680m (2014), working for all major car manufacturers in the country.