Faurecia announces the official launch of its fourth Business Group "Faurecia Clarion Electronics", based in Saitama, Japan. This activity has the ambition to become a global leader in cockpit electronics and low-speed ADAS.
Faurecia announced on October 26, 2018 a project to acquire the Japanese company Clarion. On March 28, 2019 Clarion became a wholly-owned company of Faurecia. The new Business Group, Faurecia Clarion Electronics, combines Clarion with Faurecia's previous acquisitions of Parrot Automotive and Coagent Electronics.
With 9,000 people including 1,650 engineers, this new Business Group will generate over €2 billion of sales by 2022. Significant synergies are confirmed through leveraging the combined product offer and the complementary customer, geographic and industrial footprints.
Atsushi Kawabata is appointed Executive Vice President of Faurecia Clarion Electronics and joins the Faurecia Executive Committee. He was previously President and Chief Executive Officer of Clarion.
Jean-Paul Michel is appointed Deputy Executive Vice President of Faurecia Clarion Electronics also based in Saitama. He was previously Finance Vice President of Faurecia Interiors.
The creation of this new Business Group is a key milestone in the strategic transformation of Faurecia. I am confident that Faurecia Clarion Electronics will rapidly become a leading global player in cockpit electronics and low speed ADAS. The combined competences of Faurecia and Clarion will enable us to offer differentiating user experiences for the Cockpit of the Future and Sustainable Mobility. I warmly welcome Atsushi Kawabata into the Executive Committee and all of the Clarion employees into the Faurecian community," said Patrick Koller, CEO of Faurecia.
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