News | One Equity Partners
Faurecia combined shareholders' meeting: contribution of Emcon Technologies and new governance

The combined shareholders’ meeting of Faurecia has met today and approved the contribution of Emcon Technologies as per the terms of the agreement announced on November 2, 2009.

Contribution of Emcon Technologies to Faurecia

The shareholders of Faurecia have approved the contribution by One Equity Partners, private equity fund of JP Morgan Chase & Co., of 100% of Emcon Technologies LLC and ET Dutch Cooperatie UA shares, parent companies of Emcon Group’s operational arms.

They also approved the issuance of 20 918 224 ordinary Faurecia shares as payment for this contribution valued at EUR 330 million. These shares represent 19% of Faurecia’s new total equity reaching 110 366 728 actions.

The Board of Directors of Faurecia, which has met this same day, has decided to issue these shares to One Equity Partners which has reallocated 1.8 million shares to Emcon managers.

New governance

The shareholders’ meeting has ratified the co-opting of Mr. Philippe Varin and Mr. Frédéric Saint-Geours, respectively Chairman of the Managing Board and CFO of Peugeot S.A., as Directors of Faurecia S.A.

The shareholders’ meeting has also appointed two new Directors: Mr. Lee Gardner, who will leave his position as Chairman and CEO of Emcon Technologies to become Partner of One Equity Partners and Mr. Eric Bourdais de Charbonnière, Chairman of the Supervisory Board of Michelin.

A broadened shareholder base
With this deal, the Faurecia equity is split as follows:

  • Peugeot S.A. 57,4%
  • One Equity Partners 17,3%
  • Public float 24,9%
  • Employee fund & treasury 0,4%

With immediate effect, all activities of Emcon Technologies will join the “Faurecia Emissions Control Technologies” business group, which will be headed by Jean-Marc Hannequin, Executive Vice President and member of Faurecia’s Executive Committee.

With this acquisition, Faurecia Emissions Control Technologies become N°1 worldwide for emissions control on a strong growth market, strategic for the future clean vehicle. The new business group will present on all automobile markets worldwide, with a very broad customer base, employing some 13,000 people at 66 manufacturing sites with pro-forma sales in excess of EUR 5 billion (2008 basis).

Faurecia is one of the world’s leading automotive equipment suppliers, specializing in four major activities: automotive seating, emissions control technologies, interior systems and automotive exteriors. 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. For more information, visit:

Olivier Le Friec 
Press Relations Manager 
Tel: +33 (0)1 72 36 72 58 
Mob: +33 (0)6 76 87 30 17

Florent Couvreur 
Analyst & Investor Relations 
Tel: +33 (0)1 72 36 75 70 
Mob: +33 (0)6 61 48 29 64