French Faurecia multinational corporation, a top player in the industry of leather for car interiors and components, in the automotive sector, keep growing and making investments. After getting so close to buy out, at auction sale, American GST competitor (their bid was the second best in fact), Faurecia made public data about 2017 financial statement. Overall revenues amounted to 16,96 billion euros, thus increasing by 8,6% compared to 2016. As regards their Seating Division, revenues reached 7,13 billion euros, +8%. Profits amounted to 714,5 million euros, that is, +34% on annual basis. Relying on such sparkling figures, they have been strategically implementing several investments, which are currently underway: by the end of 2018, Faurecia will inaugurate a new factory, in the USA, to manufacture panels and upholstery for car interiors. The plant is due to run at full speed by December 2020, thus opening 300 new jobs. Startup is expected to cost 60 million dollars.
Faurecia speeds up in the automotive, as 2017 revenues increased by 8,6% and profits went up by 34%. A new factory is due to open in the USA
