Faurecia May Close Eight Plants

Nanterre, France-based Faurecia SA will shutter eight automotive seat frame factories over the next four years, Reuters reports.

Unidentified sources tell the news service that most of the closings would be in Europe, but not France. Faurecia seating chief Patrick Koller outlined the plans in an internal company meeting last week, according to the sources.

Faurecia shed 1,700 jobs in Europe in 2012 and expects to reduce its workforce by a similar number this year. The company is 57.4% owned by PSA Peugeot Citroen.