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Article: Interior suppliers seek avenues for survival; Private investors grow as option for troubled firms.(News)
- Article from:
- Plastics News
- Article date:
- October 15, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rhoda Miel
At an auto industry conference in June, Faurecia SA President for North America Jim Orchard went down the list of interior suppliers that have gone through bankruptcy, are up for sale or are restructuring.
It was, he noted, nearly all of the major firms.
Even Faurecia, which is expanding in North America, is not immune to the volatile atmosphere, he said. The publicly traded supplier in Nanterre, France - with more than 70 percent of its shares held by PSA/Peugeot-Citroen SA - has been struggling even as it builds market share in the United States.
Every company, he said, should be considered a potential target for ...