Acquisition of ACH Saline business May 3, 2012

Transcription

1 Acquisition of ACH Saline business May 3, 2012

2 Deal Framework Faurecia is to acquire Ford/ACH Automotive Interiors business in Saline, Michigan (USA) Saline business Annual sales $ 1.1bn (2011) Products Cockpit modules, instrument panels, door panels and center consoles Programs 12 Ford/Lincoln vehicles: F150, Focus, Escape, Edge/MKX, Explorer, Econoline, Mustang, Taurus, Expedition/Navigator, Flex/MKT, Transit, MKS Workforce 2,100 hourly workers Financial terms Confidential (no significant impact on Faurecia s debt/cash position) Closing date June 01, 2012 (expected) 2

3 Deal Framework Future organization of operations Saline plant (MI) Ownership 100% Faurecia Annual sales approx. $ 400m Products Instrument panel component manufacturing, full door panels & consoles assembly Workforce 1,100 (hourly and salaried) * New Faurecia UAW contract in line with other Faurecia North America plants. Incl. 900 hourly employees with new UAW contract* Consolidation Fully consolidated from June 01, 2012 (expected) DMS (Detroit Manufacturing Systems) Ownership 45% Faurecia, 55% Rush Group Products Cockpit assembly Plant location Detroit (MI) Consolidation Equity accounted from June 01, 2012 (expected) 3

4 Deal Rationale Faurecia reinforces its world leadership in Automotive Interiors Faurecia reinforces its world leadership in Automotive Interiors Faurecia is becoming North America s No 1 interior systems supplier with $ 1.0bn (pro-forma 2011 product sales) Faurecia is becoming a major supplier to North America s best selling vehicle: Ford F 150 Ford becomes Faurecia s No 3 customer worldwide* Faurecia part of Ford s Aligned Business Framework since 2009: - Interior Systems - Emissions Control Technologies Faurecia is increasing its global exposure to North America * Faurecia 2011 product sales with Ford: $1.8 billion ( 1.4 billion) 4

5 Saline vehicle platforms (1) Ford F Volume: 501 k Ford Edge/Lincoln MKX 2011 Volume: 179 k Ford Focus 2011 Volume: 231 k Ford Explorer 2011 Volume: 174 k Ford Escape 2011 Volume: 287 k Ford Econoline 2011 Volume: 135 k 5

6 Saline vehicle platforms (2) Ford Mustang 2011 Volume: 94 k Ford Flex/Lincoln MKT 2011 Volume: 53 k Ford Taurus 2011 Volume: 82 k Ford Transit 2011 Volume: n/a Ford Expedition/ Lincoln Navigator 2011 Volume: 63 k Lincoln MKS 2011 Volume: 17 k 6

7 Faurecia North America In 2011 at a glance 2011 Turnover: $ 4.8bn Workforce: 16,000 employees German OEMs 22% Customer portfolio in North America Daimler VW in % 2 6 GM 36 production sites in: Canada Mexico USA BMW Asian OEMs Other OEMs Ford Fiat Chrysler American OEMs 68% 5 R&D Centers: 2 in Auburn Hills (MI) Holland (MI) Troy (MI) Columbus (IN) Faurecia sales in North America in %

8 Faurecia Interior Systems In 2011 at a glance Geographical sales breakdown in % 2011 turnover: 3.6bn South America Asia RoW 6,2 4,52,2 Workforce: 25,000 employees North America 20, ,9 Europe 79 production sites 8 R&D centers Customer portfolio Geely Volvo Tata 1,6 Honda 0,1 in % Others 0,3 Toyota 0,9 Fiat-Chrysler 4,7 VW 4,1 15,9 Daimler 8,2 BMW 6,4 8,1 GM 18,6 Ford ,3 PSA 13,8 Renault-Nissan 8

9 Profitable growth Core strategic priorities 1 4 Keep our focus on 4 core businesses Adequate growth and profit potential for all Leadership positions and worldwide coverage Technology leadership Technology leadership as a growth and profitability lever Decoration, comfort, end-user interface and connectivity Environment and fuel efficiency solutions Breakthrough materials and processes Targeted technology acquisitions 2 Operational performance as a strategic lever Deliver worldwide to customers the same benchmark level of service in manufacturing and engineering Keep optimizing the cost base to ensure competitiveness and profitability 5 Accelerate in Asia More than double sales in China Become fully local in all markets with state-of-the-art R&D capabilities Build on worldwide expansion with targeted Asian OEMs Target 4 bn Sales in 2015 (over 15% CAGR) 3 Leverage globalization Lead competition in global programs and global platforms management Outperform market in BRIC countries Achieve scale in Russia and India Become a Top 5 supplier in North America 6 Be a cautious consolidator Small to medium size acquisitions backed by our customers Priority to organic growth and market share gains 9

10 Contact & Share data Investor Relations Eric-Alain Michelis 2, rue Hennape Nanterre France Share Data Tel: Cell: Fax: [email protected] Web site: Bloomberg Ticker: Reuters Ticker: Datastream: ISIN Code: EO:FP EPED.PA F:BERT FR

11 Safe Harbor Statement This report contains statements that are not historical facts but rather forward-looking statements. The words "will," "may," "designed to," "outlook," "believes," "should," "anticipates," "plans," "expects," "intends," "estimates" and similar expressions identify these forward-looking statements. All such statements are based upon our current expectations and various assumptions, and apply only as of the date of this report. Our expectations and beliefs are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that forward-looking statements will materialize or prove to be correct. Because such statements involve risks and uncertainties such as automotive vehicle production levels, mix and schedules, financial distress of key customers, energy prices, raw material prices, the strength of the European or other economies, currency exchange rates, cancellation of or changes to commercial contracts, liquidity, the ability to execute on restructuring actions according to anticipated timelines and costs, the outcome could differ materially from those set out in the statements. Except for our ongoing obligation to disclose information under law, we undertake no obligation to update publicity any forward-looking statements whether as a result of new information or future events. 11

12 Roadshow 2011 Results Spring & Objectives February 8,