Faurecia sales rise 1.7 pct on acquisitions
PARIS, April 23
PARIS, April 23 (Reuters) - French auto parts maker Faurecia <EPED.PA said first-quarter sales rose 1.7 percent as acquisitions helped offset the impact of the European auto market slump.
Revenue rose to 4.37 billion euros ($5.69 billion) in the first three months of 2013 from 4.3 billion a year earlier, the company said in an emailed statement on Tuesday.
Faurecia, 57 percent-owned by PSA Peugeot Citroen, said global revenue increased despite an 8.6 percent drop in European product sales, "mainly impacted by the European slowdown".
The company, based in the Paris suburb of Nanterre, is pushing an expansion in North America, Asia and emerging markets such as Russia to compensate for the European slump.
Plant acquisitions - including Ford's Saline, Michigan interior parts factory purchased by Faurecia last year - added more than 150 million euros to the quarterly sales total.
($1 = 0.7674 euros) (Reporting by Laurence Frost; Editing by Christian Plumb)