July 28 (Reuters) - Faurecia SE ::Faurecia announces that it will make an offering of €500 million of 2028 Notes and an offering of €250 million of New 2025 Notes to be consolidated and form a single series with the €700 million 2.625% Senior Notes due 2025 issued on 8 March 2018..Faurecia will use the net proceeds of the offering of the Notes, together with cash on balance sheet, to refinance in full the €800 million club deal loan entered into on 10 April 2020..
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July 1 (Reuters) - Faurecia SE ::FAURECIA ACQUIRES START-UP IRYSTEC SOFTWARE TO ENHANCE USER EXPERIENCE OF COCKPIT DISPLAY SYSTEMS.IRYSTEC TECHNOLOGY WILL BE LAUNCHED LATER THIS YEAR ON A PREMIUM VEHICLE.
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May 18 (Reuters) - Competition Tribunal of South Africa::S. AFRICA'S COMPETITION TRIBUNAL - APPROVED CONSENT DEAL BETWEEN COMPETITION COMMISSION & FAURECIA EMISSIONS CONTROL TECHNOLOGIES SOUTH AFRICA.S. AFRICA'S COMPETITION TRIBUNAL - DEAL ON PROBE INITIATED BY COMMISSION IN 2014 AGAINST SEVERAL MOTOR VEHICLE EXHAUST SYSTEM MANUFACTURERS.S. AFRICA'S COMPETITION TRIBUNAL - FAURECIA AGREED TO PAY AN ADMINISTRATIVE PENALTY OF R66 885.66.
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May 15 (Reuters) - Faurecia ::: NOT PROPOSING DIVIDEND FOR 2019 PERIOD.
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April 24 (Reuters) - Faurecia SE ::EXTENDS ITS COOPERATION WITH XUYANG GROUP TO DEVELOP DISPLAY TECHNOLOGIES.THE JOINT VENTURE WILL BE CONSOLIDATED BY FAURECIA.THIS LATEST PARTNERSHIP WILL STRENGTHEN ITS POSITION IN AUTOMOTIVE MARKET IN CHINA.
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April 14 (Reuters) - FAURECIA SE ::FAURECIA STRENGTHENS ITS LIQUIDITY BY 800 MILLION EUROS TO FACE ANY POTENTIAL SCENARIO RELATED TO THE COVID-19 CRISIS.WITH €1.4 BILLION OF AVAILABLE LIQUIDITY, FAURECIA ESTIMATES TO BE ABLE TO COPE WITH ANY SCENARIO RELATED TO THE COVID-19 CRISIS.
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March 27 (Reuters) - Faurecia SE ::FULL-YEAR 2020 FINANCIAL OBJECTIVES THAT FAURECIA ANNOUNCED ON FEBRUARY 17 ARE NO LONGER RELEVANT.COVID-19: IN TERMS OF FINANCING STRATEGY AND CASH MANAGEMENT, FAURECIA HAS A VERY SOLID BALANCE SHEET WITH NO SIGNIFICANT SHORT-TERM REPAYMENT AND FINANCING AT A LOW COST.HAS TAKEN ALL NECESSARY MEASURES TO DRASTICALLY REDUCE, IN SHORT TERM, ITS COSTS, DEVELOPMENT EXPENSES AND INVESTMENTS, INCLUDING PUTTING EMPLOYEES IN ALL SITES ON TEMPORARY UNEMPLOYMENT, ACCORDING TO REDUCTION OF ACTIVITY FACED BY SITE.COVID-19: FOR ITS IMMEDIATE LIQUIDITY NEEDS, FAURECIA HAS A SYNDICATED CREDIT LINE OF EUR 1.2 BILLION (MATURITY JUNE 2024) OF WHICH IT RECENTLY DREW DOWN EUR 600 MILLION IN ANTICIPATION OF DROP IN FACTORING OF RECEIVABLES.IN TERMS OF FINANCING STRATEGY AND CASH MANAGEMENT, FAURECIA HAS A VERY SOLID BALANCE SHEET WITH NO SIGNIFICANT SHORT-TERM REPAYMENT AND FINANCING AT A LOW COST.RAMP-UP IS ONGOING IN CHINA, WHERE ALL OF GROUP'S SITES HAVE NOW RESTARTED PRODUCTION, WITH AN AVERAGE CAPACITY UTILIZATION RATE OF AROUND 70% TODAY.GROUP IS PREPARING SAFE RESTART OF PRODUCTION AS SOON AS THIS IS POSSIBLE, INCLUDING IN ENVIRONMENT WHERE VIRUS IS NOT COMPLETELY ERADICATED.WILL PRESENT ITS NEW FINANCIAL OBJECTIVES FOR 2020 AS SOON AS THE MACRO-ECONOMIC OUTLOOK FOR THE REST OF THE YEAR IS SUFFICIENTLY CLEAR.IMPLEMENTED DRASTIC MEASURES TO MANAGE ITS CASH FLOW AS WELL AS A STRICT CONTROL OF EXPENDITURE AND INVESTMENTS DURING THE SLOWDOWN OF ACTIVITY.
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March 20 (Reuters) - French car parts maker Faurecia ::SAYS WILL TEMPORARILY SHUT DOWN MOST OF ITS PRODUCTION SITES IN EUROPE IN THE NEXT FEW DAYS.
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Feb 20 (Reuters) - Lectra SA ::LECTRA REAFFIRMS ONGOING COMMITMENT TO LONGTIME CUSTOMER FAURECIA.SEATING DIVISION OF AUTOMOTIVE TECHNOLOGY COMPANY MAKES STRATEGIC ACQUISITION OF VECTOR AUTOMOTIVE IP6.
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Feb 17 (Reuters) - Faurecia SE ::FY SALES EUR 17.8 BILLION VERSUS EUR 17.5 BILLION YEAR AGO.FY OPERATING INCOME EUR 1.28 BILLION VERSUS EUR 1.27 BILLION YEAR AGO.FY NET INCOME GROUP SHARE EUR 590 MILLION VERSUS EUR 701 MILLION YEAR AGO.GROUP NET DEBT STOOD AT EUR 2.52 BILLION AT DEC 31.FY NET CASH FLOW EUR 587.0 MILLION VERSUS EUR 528.1 MILLION YEAR AGO.2020 GUIDANCE ON TRACK TO ACHIEVE MEDIUM-TERM AMBITIONS.2020 SHOULD BE ANOTHER CHALLENGING YEAR IN TERMS OF MARKET CONDITIONS - CEO.WE EXPECT, AT THIS STAGE, A DROP OF ABOUT 3% IN WORLDWIDE AUTOMOTIVE PRODUCTION - CEO.OBJECTIVE IS TO ENSURE SUSTAINABLE VALUE CREATION FOR ALL OF FAURECIA’S STAKEHOLDERS -CEO.2020 GUIDANCE IS WITH THE ASSUMPTION THAT WORLDWIDE AUTOMOTIVE PRODUCTION SHOULD BE DOWN C. 3% IN 2020.2020 GUIDANCE:SOLID REPORTED SALES GROWTH, INCLUDING: SCOPE EFFECT OF C. 500BPS OF SALES GROWTH AND OUTPERFORMANCE OF 100 TO 200BPS VERSUS. WORLDWIDE AUTOMOTIVE PRODUCTION.2020 GUIDANCE:IMPROVEMENT IN PROFITABILITY, WITH OPERATING MARGIN ABOVE 7.2% OF SALES.2020 GUIDANCE:CONTINUED STRONG CASH GENERATION, WITH NET CASH FLOW ABOVE €500 MILLION.INCREASE IN PROPOSED DIVIDEND TO €1.30 PER SHARE.
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