Faurecia has launched of its fourth business group – Faurecia Clarion Electronics – based in Saitama, Japan, saying it wants to become a global leader in cockpit electronics and low-speed ADAS.
Last October, Faurecia announced it would acquire Clarion and closed the deal last month as the supplier became a wholly-owned group company.
Faurecia Clarion Electronics combines Clarion with previously acquired Parrot Automotive and Coagent Electronics.
With 9,000 people including 1,650 engineers, this new group will, Faurecia said, generate EUR2bn of sales by 2022.
"Significant synergies are confirmed through leveraging the combined product offer and the complementary customer, geographic and industrial footprints," a statement said.
Atsushi Kawabata was named group executive vice president and also joined the Faurecia executive committee. He was previously president and CEO of Clarion.
Jean-Paul Michel is now deputy executive vice president of the new group. He was previously finance head of Faurecia Interiors.
Faurecia CEO Patrick Kolle said: "I am confident that Faurecia Clarion Electronics will rapidly become a leading global player in cockpit electronics and low speed ADAS."
