Faurecia SE (FORVIA faurecia)

Company Profile

■URL

https://www.faurecia.com

■Address

23-27 rue des Champs Pierreux, 92000 Nanterre, France

Business Overview

-The Company is a major automotive supplier. Following the acquisition of Hella on January 31, 2022, the Company is organized into six business units:

Business Group
Seating
Develops and manufactures complete vehicle seats, seating frames, and seat adjustment mechanisms
Interiors Develops and manufactures instrument panels, complete cockpits, door panels and modules
Clean Mobility
Develops and manufactures exhaust solutions, fuel cell vehicle solutions, and aftertreatment solutions for commercial vehicles
Electronics
Develops and manufactures display technologies, driver assistance systems and cockpit electronics; Includes HELLA Electronics and Clarion Electronics
Lighting
Develops and manufactures of lighting technologies
Lifecycle Solutions
Develops and manufactures solutions extending the vehicle lifecycle, special original equipment, and workshop equipment

-The Company’s four primary customers, consisting of VW, Stellantis, Renault-Nissan-Mitsubishi, and Ford, comprised 48.2% of its net sales in the fiscal year ended December 31, 2022, compared to 60.2% in 2021. The acquisition of Hella has significantly diversified the sales of the Company, expanding the percentage of sales to customers outside of the Company’s four primary customers.


-On January 31, 2022, the Company completed the acquisition of Hella after receiving all regulatory approvals. The Company acquired a total of 79.5% of the shares in Hella with 60% of the Hella shares acquired from the pool of family shareholders. The Company acquired 19.5% as part of the settlement of the public takeover offer ended on November 11, 2021. With the successful completion of the acquisition, the two companies introduced the new company Forvia, which represents the two combined entities. Both companies will keep their legal names under the Forvia name, with products being marketed and distributed under their current brands.

-On October 31, 2021, the Company sold its Acoustic Soft Trim business to the Adler group from its Interiors segment.

-On January 30, 2020, the Company completed the acquisition of SAS and integrated it within its Interiors segment. Previously, SAS was held at 50% and consolidated by the equity method.

-On March 28, 2019, the Company completed the acquisition of Clarion, making Clarion a wholly owned subsidiary of the Company. The Company combined Clarion with previous acquisitions of Parrot Automotive and Coagent Electronics to form the Clarion Electronics Business Group.

Market share

-According to its 2022 Capital Markets Day Presentation, the Company’s has the following market positions:

  • The Company’s Interiors business unit is the global market leader in interior systems and modules with a 13% market share in 2021.
  • The Company is the global market leader in seat structure systems, with a 16% market share in 2021.
  • The Company is ranked third globally in complete seat systems, with an 8% market share in 2021.
  • The Company is ranked first in electronic and software-based high-end LED solutions. It is also in the top 3 globally in general automotive lighting solutions.

Shareholders

-The Company is listed on Euronext Paris S.A.

Products

Seating
-Complete seats
-Frames
-Seating mechanisms and mechatronics
-Foam padding
-Trim covers
-Seating accessories
-Electronic and pneumatic systems
-On-board seating electronics
-Massage systems
-Recliners
-Seating tracks
-Rotating seats
-Seat-integrated physiological sensors
-Smart seating actuators
-Advanced Versatile Structure seat with integrated safety features including airbags and seatbelts

Clean Mobility
-Complete exhaust systems
-Manifolds
-Tail pipes
-Catalytic converters
-Urea SCRs
-NOx traps
-Diesel particulate filters
-Exhaust heat recovery systems
-Exhaust heat recovery manifolds
-Ammonia storage and delivery systems
-Mufflers
-Adaptive valves
-Battery top covers
-Full battery housing solutions
-Heated dosers
-ASDS de-NOx systems
-Low-pressure exhaust gas recirculation systems for gasoline system
-Compact exhaust heat recovery systems
-Electrically heated catalysts
-Hydrogen storage systems
-Hydrogen stack systems

Interiors
-Cockpits
-Instrument panels
-Cross-car beams
-Center consoles
-Decorative trim and components
-Door panels
-Door modules
-Package trays
-Trunk trims
-Acoustic insulation
-Glove boxes
-Voice control systems
-Integrated radiant panels
-Morphing Instrument Panel which shifts based on vehicle driving mode

Lighting
-Headlamps

  • Halogen headlamps
  • Xenon headlamps
  • LED headlamps
  • Adaptive front lighting systems (AFS)
  • Adaptive cut-off line lighting
  • Vertical cut-off line lighting
  • Matrix LED headlamps
  • Front indicator lamps
  • Work lamps
  • SSL Micro-LED technologies
  • Headlamp lens cleaning equipment

-Combination rear lamps

  • Indirect reflectors
  • Direct reflectors
  • Double reflectors
  • Prism rods
  • Light curtains
  • EdgeLight light guides
  • FlatLight miniaturization lighting technologies on SmartGlass displays
  • Holographic rear lamps
  • Glowing elements
  • Mirror tunnels

-Interior lighting

  • Interior central lighting systems
  • Interior lighting and reading lamps
  • Multifunctional interior lamps
  • Roof consoles
  • Ambient lighting systems
  • Small interior lamps
  • ISELED
  • Radomes

-Car body lighting

  • Fog lamps
  • Daytime running lights
  • Front combination lamps
  • Turn indicators
  • Center high mounted stop lamps
  • License plate lamps
  • Rear signal lamps
  • Marker lights
  • Light projection systems
  • Grille illumination systems
  • Multi-lens array

-Lighting electronics

  • AFS control units
  • Power modules
  • LED control units
  • Xenon ballasts
  • Control units for headlamp leveling systems
  • Sensor-integrated control units for headlamp leveling systems
  • Electronic lighting control components
  • Lighting actuators


Electronics
Faurecia-Clarion Electronics products link
-
Audio systems

  • Speakers
  • Active noise control systems
  • Exciters for automotive interior sound surfaces to create a speakerless solution
  • Digital sound tuning systems
  • Sound and smart headrests with integrated speakers and microphones

 -Body electronics

  • Body control modules
  • Seat control modules
  • Interior control units
  • Closure control units
  • Trailer tow modules
  • Passive entry/go systems
  • Keys and ID transmitters
  • Access and authorization systems for keyless entry
  • Cockpit domain controllers using SoC architecture
  • Electric power steering control modules

 -Energy management systems

  • Intelligent battery sensors
  • Voltage stabilizers
  • DC/DC converters
  • Fuel pump control modules
  • EPS control units
  • Auxiliary heating modules
  • Li-ion battery electronics
  • Battery management systems

 -Driver assistance systems

  • Lane change assist systems
  • Rear active safety systems
  • Rear cross traffic alert
  • Rear and surround view systems
  • E-mirrors
  • Camera and lidar cleaning systems
  • Automated parking assist systems
  • Autonomous pickup solutions
  • Distance warning sensors
  • 24 GHz radar sensors
  • 77 GHz radar sensors
  • Radomes
  • Near infrared cameras
  • Camera software
  • Biometric sensors
  • Sensor data fusion systems
  • AI technologies

 -Actuators

  • Body actuators
  • Engine compartment actuators
  • Vacuum pumps
  • Headlamp cleaning systems
  • Relays
  • Horns

 -Infotainment and displays

  • In-vehicle infotainment systems
  • Rear seat infotainment systems
  • Quadview multi-view graphical interface
  • Infotainment systems compatible with virtual personal assistants
  • HMI systems
  • Universal remote tuners
  • Android-based app library
  • Large display systems up to 1.5 meters in length
  • Flexible display appearances including flat and curved structures
  • Color matching display technologies
  • Advanced backlighting display technologies
  • Touch-sensitive displays
  • Force sensing displays
  • Displays with active and passive haptic feedback technologies
  • Software platform for displays to optimize user experience based on perception and physiology
  • Optical bonding technologies
  • Smartphone connectivity systems

 -Sensors

  • Position sensors
  • Accelerator pedal sensors
  • Rain / Light sensors
  • Oil sensors
  • Steering torque / Angle sensors
  • Transmission range sensors
  • Vehicle level sensors
  • Throttle position sensors
  • Shake sensors
  • Air quality sensors
  • Climate sensors
  • Temperature sensors
  • Solar sensors
  • Non-contact humidity sensors

History

Dec. 1997 Ecia, a 68% subsidiary of PSA Peugeot Citroen established in 1929, acquired Bertrand Faure, the largest European seat manufacturer established in 1914.
Jun. 1999 The merger of Ecia and Bertrand Faure was approved at the Extraordinary General Meetings of shareholders of both companies. Renamed as Faurecia.
Oct. 2000 Acquired Sommer Allibert. The deal was financed by the PSA Peugeot Citroen Group, which increased its shareholding in the Company to 71.5%.
2007 Purchased certain assets of Cadence Innovation in France for EUR 0.4 million.
Acquired a 50% interest in Romania-based Euro Auto-Plastic Systems srl in the Vehicle Interiors business for EUR 9.4 million.
Acquired the 50% interest held by the Duroplast Group in Faurecia Duroplast Mexico for EUR 18.3 million, raising its stake in the company to 100%.
Set up three new companies in China in 2007 - Faurecia (Shanghai) Automotive Systems Co. Ltd., Faurecia Wuhan Automotive Seating Co. Ltd. and Faurecia Qingdao Exhaust Systems Co. Ltd.
Set up one new company in South Korea, Faurecia Trim Korea Ltd.
2008 Established Faurecia Equipements Automobiles Maroc, in Kenitra, Morocco.
Established Faurecia (Wuhu) Exhaust Systems in China
Established Faurecia Exhaust System Rayong in Thailand
May 2009 Opened the Global Seat Mechanisms Center in Caligny, France.
2010 Acquired EMCON Technologies LLC, a leading exhaust system supplier in Troy, MI, U.S.A.
2012 Acquired Plastal France (Plastal S.A.S.), the automotive business of Sora Composites, and Saline, currently operated by Ford Motor Company's Automotive Components Holdings, LLC (ACH).
Jul. 2016 The Company divested its Automotive Exteriors business (bumpers and front-end modules) to Plastic Omnium.
Feb. 2017 Invested in TactoTek, a Finnish startup which provides injection molded structural electronic solutions.
May 2017 Invested in STELIA Aerospace Composites to design, industrialize and commercialize high-pressure hydrogen tanks made from carbon fiber for fuel cell vehicles.
Nov. 2017 Finalized acquisition of a majority stake in Jiangxi Coagent Electronics, which will develop in-vehicle infotainment solutions.
Dec. 2017 Invested in Alsentis, a company specializing in capacitive sensor technology and HMI development.
Oct. 2018 Completed acquisition of 100% of Parrot Automotive, changing the name of the entity to Parrot Faurecia Automotive.
Mar. 2019 Completed acquisition of Clarion Co., Ltd., a automotive electronics company providing systems such as navigation, audio, ADAS, driver monitoring and cockpit domain controllers.
Apr. 2019 Integrated Clarion Co., Ltd., with previously acquired Parrot Automotive and Coagent Electronics into the newly formed Clarion Electronics Business Group.
Apr. 2019 Acquired majority stake in Swedish company Creo Dynamics, a company which focuses on acoustics and active noise control solutions.
May 2019 Invested in Israeli company GuardKnox, a cybersecurity solution provider.
Jan. 2020 Completed acquisition of remaining 50% of SAS, a joint venture with Continental focused on development and production of interior modules.
Jul. 2020 Acquired IRYStec Software, a company which has developed a software platform to optimize vehicle displays.
Jun. 2021 Acquired designLED, a company focused on flexible backlighting technologies.
Aug. 2021 Signed agreement with Hella for the business combination of the two companies.
Jan. 2022 Completed acquisition of Hella and formed Forvia, a company representing the combined entities.

Supplemental Information 1