Faurecia has today (18 July) unveiled a project investment agreement with the Yancheng Economic and Technology Development Zone in Yancheng (Jiangsu, China) to develop further its seat mechanisms activities in the country and export markets.
Under the terms of the deal, Faurecia will build a new automotive seating plant in Yancheng and expects to invest US$42m to manufacture up to 4m seat mechanism sets per year.
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Construction of the new plant will start by the end of 2011 and will cover some 22,000 sq m. Full production levels will be reached by the summer of 2013.
The city of Yancheng is an important growth region for automotive production in China, with the presence of Dongfeng Yueda Kia (DYK), a joint venture of Kia, China’s Dongfeng Automotive Group and Yueda, first established in 2002, which produced 200,000 vehicles during the first half of 2011.
The Farecia Group is currently present in China through 25 plants and four R&D centres, with 6,000 employees. It achieved 2010 sales of EUR1.023bn and is targeting EUR2.5bn sales in China in 2015.
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