Magneti Marelli and Faurecia have announced the start of production in their joint venture (JV) delivering interior and exterior parts for vehicles assembled at the new Fiat Chrysler Automobiles (FCA) plant in Goiana, Pernambuco, Brazil. Named FMM Pernambuco Componentes Automotivos Limitada, the JV is initially majority-owned by Magneti Marelli (65 percent), while Faurecia holds 35 percent. The two companies are expecting annual sales above approximately $223 million over the long run.
The JV manufactures vehicle interior parts such as instrument panel, cockpit, center console and door panels, as well as exterior parts such as bumpers and spoilers. In Goiana, the new plant is set-up in the strategic supplier park located within the FCA plant area, along with other key tier one suppliers, and has started delivering parts for the Jeep Renegade.
In Brazil since 1978, Magneti Marelli has about 9,000 employees with 16 production units and five R&D centers, with a turnover in Brazil of around €820 million ($915 million).
Faurecia has been present in Brazil since 1997 and currently employs 3,400 people at 15 plants and three R&D centers generating sales of €680 million ($759 million) in 2014 working for major car manufacturers in the country.