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China Expansion Buoys Faurecia Sales
French seating supplier Faurecia SA says expanded operations in China helped it boost revenue through the first six months of 2019 by 3% to $1.3 billion.
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Seating supplier Faurecia SA says expanded operations in China helped it boost revenue through the first six months of 2019 by 3% to €1.2 billion ($1.3 billion).
The company’s operating income in January-June was flat at €645 million ($723 million). Net income rose 1% to €346 million ($388 million). Results exclude Faurecia’s $1.3 billion acquisition of nav system supplier Clarion Co. in February.
CEO Patrick Koller says a significant downturn in China’s vehicle production during the first half of the year make the period “tougher than expected.”
Faurecia notes that all its regional operations except North America outperformed local production for the period.
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