Latest news with #Forvia
Yahoo
28-04-2025
- Business
- Yahoo
Share Buyback Transaction Statement from 21 April to 25 April 2025
Nanterre, 28 April 2025 Share Buyback Transaction Statement From 21 April to 25 April 2025 Aggregated presentation by day and market Issuer's name Issuer's identifying code Transaction date Identifying code of financial instrument Daily total volume (in number of shares) Daily weighted average price of shares acquires Market (MIC code) FORVIA 969500F0VMZLK2IULV85 23/04/2025 FR0000121147 15 000 6.76 € XPAR FORVIA 969500F0VMZLK2IULV85 24/04/2025 FR0000121147 15 000 6.79 € XPAR FORVIA 969500F0VMZLK2IULV85 25/04/2025 FR0000121147 15 000 7.02 € XPAR A detailed transaction-by-transaction presentation of this information is available on Forvia's website at the following address: Attachment FORVIA - Aggregated reporting from 21 April to 25 April 2025 (CP)Sign in to access your portfolio
Forbes
24-04-2025
- Automotive
- Forbes
Auto Supplier Forvia Introduces Products Amid Trade War With China
A Forvia automotive interior Forvia, a major French-based automotive supplier, is using this week's Shanghai auto show to introduce new products. The event is a sign that, despite the auto trade battle between the United States and China, the auto industry remains international. 'Auto Shanghai is where the future of mobility becomes reality — a time machine fast-forwarding us into tomorrow,' Martin Fischer, chief executive officer of Forvia, said in a statement. The company 'showcases a wide portfolio of cutting-edge, AI- and software-driven sustainable innovations. At the forefront of industry transformation, we are redefining mobility through safe, high-performance, sustainable, and cost-effective solutions for customers and drivers worldwide.' These are among the highlights of what Forvia is showing at Shanghai: --Power electronics and battery management: The company's EnergyCore improves "electric vehicle efficiency by integrating key power and battery electronics into one unit,' according to Forvia. 'It offers a fully integrated system from a single source.' --Exhaust system advancements: The supplier said it's working with automakers 'to meet stricter emissions and pollutant regulations, offering technologies for internal combustion, hybrid, plug-in hybrid, and H₂ ICE vehicles across multiple segments.' Forvia said it's working in China to 'combine digital solutions to enhance cabin acoustic comfort, and address space and noise challenges.'--Hydrogen technology: Forvia said it's highlighting its MultiCavity hydrogen storage system at Shanghai. The system has 'composite vessels connected to a single upstream on-tank valve,' according to the company. Forvia says the system 'offers up to 20% cost savings' and a "35% reduction in CO₂ emissions.' Much of the attention of reducing greenhouse gases from cars and trucks has been on production of electric vehicles. EV output is most advanced in China, followed by western Europe and North America. Forvia said in a statement that hydrogen will be an important part of the future. Hydrogen fuel cell vehicles 'offer a critical, complementary solution—especially for energy-intensive, high-uptime applications like long-haul trucking, industrial transport, or emergency response,' Yves Dumoulin, Forvia's senior vice president of hydrogen solutions, said in the statement. 'These are segments where fast refueling and extended range are essential.' He added: 'Our technologies are ready. Now, the challenge is collective: public and private stakeholders must align to accelerate infrastructure and adoption.' --Interiors: At Shanghai, Forvia is showing interior displays and what it calls its Safe & Relax seat. The Skyline interior display assembles 'six smaller displays instead of one large, curved screen,' according to the company. Forvia says that reduces cost and is designed for all vehicle segments. The Safe 45 seat 'reclines up to 45 degrees with a reinforced frame, keeping seatbelt attachment fastened to the vehicle body,' Forvia said. 'The Safe 60 extends recline to 60 degrees with an All-Belt-to-Seat design for optimal protection.' Forvia estimates 35% of its seating sales come from China. The company's seating business 'is deeply rooted in the Chinese market, working with international and Chinese OEMs in all segments,' Stephane Noel, Forvia's executive vice president of seating, said in the company statement.
Yahoo
17-04-2025
- Automotive
- Yahoo
Forvia implements tariff action plan with clients and suppliers
(Reuters) -Car parts supplier Forvia is implementing an action plan to mitigate the direct impact of U.S. tariffs on its activities, the France-based company said on Thursday. The company, which exports goods manufactured in its Mexican plants into the United States, has since March been impacted by the 25% duties U.S. President Donald Trump imposed on Mexico. "The Group is proactively mitigating the impact by securing pass-throughs with its clients, negotiating with its suppliers and adjusting its supply chain," Forvia said in its quarterly earnings statement. The company, which supplies parts to Stellantis, Volkswagen and Ford, said it had already reached agreements for almost 50% of its tariff exposure, with the aim of covering all of it. "We ensured that we used the pass-through and negotiation clauses with our customers, we are working to optimise our supply chain, we are also working to make maximum use of our factories in the United States and then to make costs more flexible at all the factories concerned," Chief Financial Officer Olivier Durand said in a call with journalists. Forvia is implementing measures to deal with market volatility, such as reducing investments with a targeted cut of more than 100 million euros ($113.5 million) in capital expenditures and development costs in 2025 compared to last year. It will also reduce additional fixed costs by freezing hiring globally, immediately reducing non-permanent contracts, restricting travel and cutting marketing expenses, and cancelling its presence at the CES and IAA trade shows. Forvia's sales grew 2.6% to 6.7 billion euros in the first quarter of 2025, outperforming the global automotive market, according to the S&P Global Mobility forecast published earlier this month. ($1 = 0.8812 euros) Sign in to access your portfolio
Reuters
17-04-2025
- Automotive
- Reuters
Forvia implements tariff action plan with clients and suppliers
April 17 (Reuters) - Car parts supplier Forvia ( opens new tab is implementing an action plan to mitigate the direct impact of U.S. tariffs on its activities, the France-based company said on Thursday. "The Group is proactively mitigating the impact by securing pass-throughs with its clients, negotiating with its suppliers and adjusting its supply chain," Forvia said in its quarterly earnings statement. The company, which supplies parts to Stellantis ( opens new tab, Volkswagen ( opens new tab and Ford (F.N), opens new tab, added it had already reached agreements for almost 50% of its tariff exposure, with the aim of covering all of it. Its sales grew 2.6% to 6.7 billion euros ($7.6 billion) in the first quarter of 2025. ($1 = 0.8800 euros)
Yahoo
29-03-2025
- Automotive
- Yahoo
Auto Supplier Facing Trump Tariffs Sweetens Junk Bond Offer
(Bloomberg) -- French auto supplier Forvia SE hiked the yield on its debut US dollar junk bond offering following US President Donald Trump's decision to slap tariffs on auto imports to the country. Why Did the Government Declare War on My Adorable Tiny Truck? Gold-Rush Fever Returns to Historic New Zealand Mining Town How SUVs Are Making Traffic Worse Trump Slashed International Aid. Geneva Is Feeling the Impact. These US Bridges Face High Risk of Catastrophic Ship Strikes The company priced the debt with a final yield and coupon of 8%, the upper end of a range it revised from its initial offer of about 7.75%, according to a person familiar with the matter. Citigroup led the deal. Spokespeople for Forvia and Citigroup didn't immediately respond to requests for comment. Forvia's deal was already coming at a time when Europe's auto parts sector was under pressure from a cost-of-living squeeze and slowing demand. Following Trump's tariff announcement, several auto parts manufacturers such as Mahle GmbH, Grupo Antolin-Irausa SA and Forvia itself were among the worst performers in a Bloomberg index of European junk-rated borrowers on Thursday. 'In European high yield credit, spreads do not reflect the credit risk embedded in most auto issuers,' said Nicolas Jullien, head of high yield and credit arbitrage at Candriam SA, declining to comment specifically on Forvia. 'Credit ratings need to be adjusted downward. In some cases multi-notch downgrades are needed.' Forvia raised $500 million after managing to price €750 million ($810 million) in high-yield bonds due in 2030 at par last week. But those notes dropped as low as 98.6 cents in secondary trading after the latest announcement on tariffs. In addition, the company's five-year credit default swaps, instruments used to insure against a default, hit their highest level since October 2023. Nanterre-based Forvia makes products for cars such as lights and seats. It's been grappling with higher debt levels following its purchase of a majority stake in German auto parts supplier Hella in 2022. So far, it's only made €250 million of divestments out of a €1 billion disposal plan announced in 2023. Forvia said in March that it's considering selling some larger businesses as it accelerates a plan to cut its borrowings. In the investment-grade market, meanwhile, European carmakers such as Stellantis, BMW and Mercedes Benz all saw their CDS prices spike. In the US, automakers' dollar bonds saw some of the largest spread widening. This was led by German firms Volkswagen and BMW's US dollar debt but also by General Motors 2049 note, which widened 11 basis points on the day. (Updates to include final pricing) Business Schools Are Back Google Is Searching for an Answer to ChatGPT Israel Aims to Be the World's Arms Dealer A New 'China Shock' Is Destroying Jobs Around the World The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending? ©2025 Bloomberg L.P. Sign in to access your portfolio
