Faurecia aims for sales of €22bn by 2016

Automotive giant Faurecia says it will focus on growth in North American and Asia to achieve sales of €22bn over the next four years.

The announcement comes only weeks after the company lowered its expectations for 2012 because of a slowdown in European car production. The firm now expects an operating income of about €500m for the full year 2012, lower than July 2012 predictions of €560-610m.

However, over the next four years Faurecia is aiming to focus on markets outside of Europe to grow 6-7% per annum. Sales from outside Europe will increase from 37% of the company’s total in 2011 to 55% over the same period of time.

In North America, Faurecia has quadrupled its sales since 2009 and is now positioned, after the Ford Saline acquisition, as the sixth largest equipment supplier. And in Asia, the company is focused on growth in China.

The firm says the market will remain weak in Europe but it plans to secure profitability in the area by extending its footprint in the east of the region.

Faurecia is one of the biggest injection moulders in the world and last month came top of the European Injection Moulders rankings. The company’s estimated sales from injection moulding total €4.97bn, ahead of second place rival Johnson controls with €4.56bn.

Faurecia is also Europe’s third largest automotive supplier, specialising in seating, emission control technologies, interior systems and automotive exteriors.

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