Ficosa awarded multiple rear-view mirrors contract worth $510 M in North America

  • North America is, after Europe, the most important market for this multinational corporation
  • The multinational receives four orders from American OEM to produce 8,900,000 mirrors in 5 years
  • Three of them will be produced at the new facility in Tennessee, which will open later this summer, becoming the first projects won by this factory
  • These orders mark a record high for orders won by Ficosa North America in a single year

Barcelona, June 15th, 2016.- Ficosa, top-tier global provider devoted to the research, development, manufacturing and marketing of high-technology vision, safety, connectivity and efficiency systems for the automotive and mobility sectors, has been awarded four contracts from two American OEMs to produce 8,900,000 units of rear-view mirrors over a period of five years in North America. The total amount of these orders is 510 million dollars (approximately 449 million euros) and means a record number of contracts closed with OEMs in a single year in the North American region.

In the words of Joan Cañellas, Ficosa North America CEO: “These new projects for rear-view mirrors ensure high production volume and consolidate our business with strategic customers in the North America region, reaffirming our commitment and steady growth in this area”.
The new facility in Cookeville wins three of the four contracts

Three orders will be produced in the new facility in Cookeville (Tennessee), which will be the group’s most advanced worldwide. These will be the first new projects to go to the new factory, which will kick off its activity in October 2016.

In total, these new contracts will account for 1,700,000 rear-view mirrors annually for a period of five years. The value of this Cookeville production will represent an economic value of 460 million dollars (405 million euros), and will begin in the first quarter of 2018.

The Cookeville plant, which is expected to be fully operational later this year, will be a leader in painting and injection processes thanks to the latest technology production equipment.

Furthermore, Ficosa North America is currently recruiting 240 new workers for positions including project managers, technicians, engineers, operators and human resources specialists

Cañellas highlights: “These projects will give the Cookeville plant a strong boost and not only reinforce the company’s business in North America but allow us to give our workers a better, safer future”.

For its part, the Mexican facility of Salinas Victoria (Nuevo León) will produce a fourth order consisting of 80,000 rear-view mirrors per year for a period of 5 years. This contract comes from an American OEM in the premium segment and is valued at a total of 50 million dollars (43.9 million euros). Production will start in the last quarter of 2018.

Consolidating its presence in North America

North America has become, after Europe, the most important market for this multinational corporation, which began operations in this region in 1994 and where it produces mirrors, gearboxes and brake systems. In the United States, Ficosa currently has a commercial office and development center, which employs 35 engineers, in Detroit (Michigan); a production centre in Shelbyville (Kentucky) and a new plant in Cookeville (Tennessee), which when at full capacity will replace the Crossville factory (Tennessee). The two Ficosa plants in Mexico, located in Salinas Victoria (Nuevo León) and Escobedo (Nuevo León), where the company also has an R&D plant, reinforce Ficosa’s activity in the North American region.

Ficosa has more than 9,700 employees in 16 countries worldwide, 1,700 of which work in North America.

About Ficosa
Ficosa is a global company devoted to the creation of high-technology vision, safety, efficiency and connectivity solutions for the industry, with the desire to contribute to society through our commitment to technological innovation, human values and energy efficiency. Founded in 1949 and based in Barcelona, Ficosa currently has more than 9,700 employees in 16 countries worldwide in Europe, North and South America and Asia, with consolidated sales of 949 million euros in December 2014. The rear-view system (interior/side mirror) is Ficosa’s main business, known worldwide and by top global OEMs.
URL: http: //

Compartir en FacebookTweet en TwitterCompartir en LinkedInEnviar esta página por correo