Faurecia, one of the world’s leading suppliers of automotive components, has agreed to sell the NFPP (Natural Fiber Polypropylene) and WFPP (Wood Fiber Polypropylene) business unit located in Galicia to Callista Private Equity. The business will be continued under the name of Madera Fiber Technologies.

This transaction seeks to boost this business unit under a new ownership that will explore the entry into new markets and operational improvements with the purpose of generating additional value in the long term through the differential products and technologies that it currently has.

Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 266 industrial sites, 39 R&D centers and 114,000 employees in 35 countries, Faurecia is a global leader in its four areas of business: seating, interiors, Clarion Electronics and clean mobility. The Group’s strong technological offering provides carmakers with solutions for the cockpit of the future and sustainable mobility.

Faurecia is listed on the Euronext market and reported in 2020 total turnover of €14.7 billion.

Since its foundation in 2013, Callista has specialized in the acquisition of companies in special situations such as carve-outs of business units of multinational companies that became non-core business. Investments are made in various economic sectors and industries, with a focus on manufacturing and industrial companies.

Through direct involvement in all its companies and by optimizing corporate processes and structures, they seek to achieve a sustainable improvement in the performance of these companies or productive assets to stabilize them over time and generate value.