European supplier gets big North American contract

Automotive parts supplier Faurecia has secured a new contract to supply DaimlerChrysler in North America. France-based Faurecia will earn about $1.8 billion from the deal by 2006. Under the terms of the contract, Faurecia, Europe’s third largest auto parts supplier, will supply car seats, seat frames, dashboard panels and exhaust systems to DainlerChrysler’s North American Chrysler division.