Faurecia enters into joint venture with Beijing WKW
October 15, 2015 - France
Faurecia, one of the leading automotive equipment suppliers, and Beijing WKW Automotive Parts Co. Ltd., one of China’s leading interior and exterior trim systems manufacturers, have entered into a joint venture on September 24, 2015 in Beijing (China), an agreement to create an entity named Beijing WKW-FAD Automotive Interior Parts Co. Ltd. (BWKWFAD).
Beijing WKW Automotive Parts is a major supplier of vehicle interior aluminium decoration in China. Faurecia, the world market leader for aluminium decoration, will have an industrial footprint in China to serve its customers, starting with Infiniti and Volvo. Together, the partners will be leading the Chinese market and building synergies in automotive interior aluminium decoration parts for passenger vehicles.
With total planned investment of €14 million, BWKWFAD will be specialised in interior aluminium decoration parts for the Asian market, covering development, manufacturing, assembly and marketing. Besides, the company will also provide after-sales services and technical consulting, according to a press release.
Jean-Michel Vallin, president of Faurecia China said, “As a the global leader in vehicle interior decoration, Faurecia is reinforcing its market presence globally, building on the strong foothold of Beijing WKW in China’s automotive aluminium decoration market. Beyond China, we are confident that our alliance will enable us to further develop our business with our Asian customers.”
Li Jingyu, president of Beijing WKW said, “This new joint-venture will enhance Beijing WKW’s current operations as well as play a key role in developing a stronger presence in China. The joint venture will help bring together the best of both companies’ expertise in vehicle interior decoration to deliver highest quality products and better serve automakers in China.” (GK)
Beijing WKW Automotive Parts is a major supplier of vehicle interior aluminium decoration in China. Faurecia, the world market leader for aluminium decoration, will have an industrial footprint in China to serve its customers, starting with Infiniti and Volvo. Together, the partners will be leading the Chinese market and building synergies in automotive interior aluminium decoration parts for passenger vehicles.
With total planned investment of €14 million, BWKWFAD will be specialised in interior aluminium decoration parts for the Asian market, covering development, manufacturing, assembly and marketing. Besides, the company will also provide after-sales services and technical consulting, according to a press release.
Jean-Michel Vallin, president of Faurecia China said, “As a the global leader in vehicle interior decoration, Faurecia is reinforcing its market presence globally, building on the strong foothold of Beijing WKW in China’s automotive aluminium decoration market. Beyond China, we are confident that our alliance will enable us to further develop our business with our Asian customers.”
Li Jingyu, president of Beijing WKW said, “This new joint-venture will enhance Beijing WKW’s current operations as well as play a key role in developing a stronger presence in China. The joint venture will help bring together the best of both companies’ expertise in vehicle interior decoration to deliver highest quality products and better serve automakers in China.” (GK)