Magneti Marelli and Faurecia have announced the start of production of their joint venture delivering interior and exterior parts for vehicles assembled at the new Fiat Chrysler Automobiles
08 May 2015 | 5263 Views | By Autocar Professional Bureau
Magneti Marelli and Faurecia have announced the start of production of their joint venture delivering interior and exterior parts for vehicles assembled at the new Fiat Chrysler Automobiles (FCA) plant in Goiana (Pernambuco, Brazil), which was officially inaugurated on April 28, 2015.
Named FMM Pernambuco Componentes Automotivos Limitada, the ...
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Magneti Marelli and Faurecia have announced the start of production of their joint venture delivering interior and exterior parts for vehicles assembled at the new Fiat Chrysler Automobiles (FCA) plant in Goiana (Pernambuco, Brazil), which was officially inaugurated on April 28, 2015.
Named FMM Pernambuco Componentes Automotivos Limitada, the JV is initially majority owned by Magneti Marelli (65%), while Faurecia holds 35%. The joint-venture targets annual sales of above the 200 million euro mark in the long run.
The JV manufactures vehicle interior parts such as instrument panel, cockpit, centre console and door panels, as well as exterior parts such as bumpers and spoilers. In Goiana, the new plant is set up in the strategic supplier park located within the FCA plant area, along with other key Tier 1 suppliers, and has started delivering parts for the Jeep Renegade.
“We are, above all, honored to participate in and to contribute to this important project, which will see the creation of the largest, most sustainable and most technological industrial plant of Fiat Chrysler Automobiles in the world. In addition, Brazil is for us a benchmark market we have been operating in since 1978 and where we have a significant industrial presence. The partnership with Faurecia is very important because we can effectively integrate our mutual know-how in order to best contribute to key projects such as those related to Pernambuco”, said Eugenio Razelli, CEO of Magneti Marelli.
“This agreement is an instrumental step in the long-term development of our activities with Fiat Chrysler Automobiles. We are proud to be associated with the production of the new Jeep Renegade, to which Faurecia is applying its full expertise in vehicle interior and exterior, based on our renowned engineering, manufacturing and quality excellence system,” said Yann Delabrière, chairman and CEO of Faurecia.
Both Magneti Marelli and Faurecia are well established in Brazil. Magneti Marelli, which has been in Brazil since 1978, has about 9,000 employees with 16 production units and five R&D centers, with a turnover in Brazil of around 820 million euros. Faurecia has been present in Brazil since 1997 and currently employs 3,400 people at 15 plants and three R&D centres generating sales of 680 million euros (2014) working for all major car manufacturers in the country.