Management & Operations

Ficosa wins 4 contracts to provide 8.9M rearview mirrors

Posted on June 16, 2016

Ficosa, a global provider devoted to the research, development, manufacturing and marketing of high-technology vision, safety, connectivity and efficiency systems for the automotive and mobility sectors, has been awarded four contracts from two American OEMs to produce 8.9 million units of rearview mirrors over a period of five years in North America.

The total amount of these orders is $510 million dollars and means a record number of contracts closed with OEMs in a single year in the North American region.

Three orders will be produced in the new facility in Cookeville, Tenn., which will be the group’s most advanced worldwide. These will be the first new projects to go to the new factory, which will kick off its activity in October 2016.

In total, these new contracts will account for 1.7 million rearview mirrors, annually, for a period of five years. The value of this Cookeville production will represent an economic value of $460 million dollars and will begin in the first quarter of 2018.

The Cookeville plant, which is expected to be fully operational later this year, will be a leader in painting and injection processes thanks to the latest technology production equipment.

Furthermore, Ficosa North America is currently recruiting 240 new workers for positions including project managers, technicians, engineers, operators and human resources specialists

For its part, the Mexican facility of Salinas Victoria (Nuevo León) will produce a fourth order consisting of 80,000 rearview mirrors per year for a period of five years. This contract comes from an American OEM in the premium segment and is valued at a total of $50 million dollars. Production will start in the last quarter of 2018.

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