Faurecia, Hella merger to form seventh-largest Automotive supplier
The takeover of Hella by Faurecia was completed at the end of January. Now it is becoming apparent what the resulting entity will look like – and what it will be called.
On Hella’s shareholders’ committee, Faurecia representatives will take the seats previously held by the Hella family pool. Hella CEO Rolf Breidenbach will oversee the integration of the specialist for vehicle lighting and radar sensors into the Faurecia Group until his departure at the end of June.
The group resulting from the merger bears the name Forvia; with around 150,000 employees worldwide, it sees itself as the seventh-largest automotive Tier One in the global ranking. However, the two companies will continue to operate in the market as independent entities; Forvia is to function as an umbrella brand “Thus, we have now created essential prerequisites for opening up additional sales opportunities and realising additional synergy potentials together with Faurecia,” said Breidenbach. According to Faurecia CEO Patrick Koller, the companies intend to focus on high-growth future markets – in other words, automotive systems based on electronics and software.
In order to strengthen the agility of the company and to align the structures with those of Faurecia, Hella will be organised along the three Business Groups Lighting, Electronics and Lifecycle Solutions. The management of the newly formed Lifecycle Solutions Business Group, in which the previous Aftermarket and Special Applications business segments will be bundled, will be assumed by Dr. Lea Corzilius in addition to her role as Managing Director Human Resources.
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