Faurecia says it is now aiming at exceeding global automotive production growth by three to four percentage points a year and reaching EUR20bn (US$27.6bn) sales by 2015, an increase of 25% compared with the 2011 estimate.
Faurecia also confirmed its profitability targets will be attained by 2014 with an operating margin of 5%-6%, with the group relying on contracts under development representing product sales of around EUR34bn during the lifetime of the deals, more than 2.7 times the estimated product sales for 2011.
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The French supplier said it would continue expansion in Asia, mainly in China and Korea, while solid growth prospects in North America were also a feature.
Faurecia chairman and CEO Yann Delabriere noted the group’s strategic development would be based on four key business groups: automotive seating, interior systems, emissions control technologies and exterior systems, each positioned among the world top three in its market.
The supplier added its technological capabilities and innovations developed by a global engineering network, reinforced in Europe, is now being extended to China and India.
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