PSA Peugeot Citroën supports the development of Faurecia

PSA Peugeot Citroën supports the development of Faurecia

PSA Peugeot Citroën welcomes the agreement signed by Faurecia to acquire EMCON Technologies. Faurecia will become world leader in emissions control technologies.

Faurecia will finance this acquisition through the issue of new shares. As a consequence, PSA Peugeot Citroën’s stake in Faurecia will become 57.4 % vs 70.86% previously.

This strategic move by Faurecia confirms the wish of PSA Peugeot Citroën, as a major shareholder, to support fully Faurecia in its development.

Faurecia is one of the world’s leading automotive equipment suppliers, specializing in four major activities: seats, vehicle interiors, front ends and emissions control technologies. In 2008, the Group posted sales of 12 billion euros. It has operations in 29 countries at 190 sites and 28 R&D centers. Faurecia is listed on the NYSE Euronext Paris stock exchange.

EMCON Technologies is a leader in the global exhaust emissions control technology industry. The company serves worldwide passenger car, commercial vehicle and engine manufacturers. This $3.2 billion business has operations in 19 countries with 6,000 employees and several long-term joint venture relationships.

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