Automotive supplier Faurecia has taken a controlling stake in Hella, creating what it says is the world’s seventh largest automotive supplier. The companies will continue to operate as two independent legal entities, with products continuing to be marketed and distributed under their current brands, but they will jointly use a new umbrella brand for their corporate identity – Forvia.
The deal means Faurecia products will soon be available through Hella, commencing with Faurecia’s Easy2Fit exhaust system kits.
“This new name reflects core elements of our Faurecia and Hella brands, as well [as] giving a good translation of our shared purpose – inspiring mobility,” said Patrick Koller, Chief Executive Officer of Faurecia. “This new Group represents 150,000 talented individuals across more than 40 countries inspired by one vision, speaking with one voice and working as one team. As Forvia, we are shaping safe, sustainable, advanced and customised mobility for today’s and tomorrow’s generations.”
Stefan van Dalen, who is responsible for Hella’s global aftermarket business, said Hella and Faurecia have strong original equipment expertise in product fields that complement each other. “Together, we will consistently transfer this know-how to the independent aftermarket,” he added.
“We are pleased to now have Hella as a partner with a high-performance aftermarket network at our side,” said Maryse Penny, Corporate Strategy Director at Faurecia. “This will further intensify our proximity to customers and additionally drive our growth in the aftermarket. By jointly offering high-quality spare parts and services, we not only facilitate ordering and logistics processing for wholesalers and workshops, but above all ensure fast and profitable repair processes.”
Faurecia completed the €5.3 billion ($8.5 billion) deal at the end of January, gaining ownership of 79.5 per cent of Hella.