French automotive giant Faurecia has changed status to a European company, effective 26 Dec 2018.
With the change, Faurecia SA is now registered as Faurecia SE, to better reflect the company's “European dimension”, the company said in a 4 Jan statement.
Faurecia generated sales of just under €17bn in the year 2017, 50% of which was from Europe. The company employs over 45,000 people in the region, 13,000 of whom are based in France. Faurecia runs 110 production centres and 13 research and development centres in Europe.
Despite the status change, Faurecia will continue to be governed by French law and will maintain its listing on the Paris Stock Exchange.
The company headquarters will remain in Nanterre, France.