Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.