New entity represents world’s seventh largest automotive supplier.
Faurecia and HELLA have announced the successful formation of FORVIA, created as a result of Faurecia’s acquisition of a controlling stake in HELLA.
The new entity is viewed as being uniquely positioned to grow and benefit from strategic drivers currently impacting the automotive industry. The key to this success is seen as being built on four pillars:
- Safety
- Sustainability
- Advanced Solutions
- Customized Experiences
Although FORVIA will have strategic insight over Faurecia and HELLA, these two well-established brands will continue to operate as separate entities and retain their legal names (Faurecia SE and HELLA GmbH & Co. KGaA) under the FORVIA umbrella. By keeping separate structures, the aim is to create sustainable value for all shareholders, while at the same time leveraging the power of collaboration and resources available through FORVIA.
In reference to the merger announcement, Patrick Koller, CEO of Faurecia, remarked, “this new name reflects core elements of our Faurecia and HELLA brands, as well giving a good translation of our shared purpose—inspiring mobility. This new Group represents 150,000 talented individuals across more than 40 countries inspired by one vision, speaking with one voice and working as one team. As FORVIA, we are shaping safe, sustainable, advanced and customized mobility for today’s and tomorrow’s generations.”
Rolf Breidenbach, CEO of HELLA, added: “FORVIA captures the close cooperation between Faurecia and HELLA excellently. The name embodies essential core aspects that have always distinguished both companies—such as dynamism, vision, passion, solution orientation, customer proximity and community spirit. At the same time, FORVIA is a clear signal of a new start into a common future.”
