Stainless Steel in Exhaust Systems Angel L. Ramirez

Transcription

1 Stainless Steel in Exhaust Systems Angel L. Ramirez Singapore, June 2012

2 Faurecia overview 84,000 employees* 270 sites 33 countries Group revenues: 16.2 billion 40 R&D centers 2011 key figures 5,000 R&D engineers and technicians 300 patents filed in 2011 Annual R&D budget: 600 million (excluding programs): 4% of sales Listed on Euronext Paris (SBF compartment A) 1. Bosch 2. Denso 3. Continental 4. Aisin Seiki 5. Magna Johnson Controls 8. ZF 9. LG Chem 10. Hyundai 11. TRW 12. Delphi 13. Yazaki 14. Lear 15. Sumitomo 16. BASF 16. Toyota Boshoku 18. Calsonic Kansei 19. JTEKT 20. Hitachi The world's top automotive equipment suppliers (2010 revenues bn) 13.8 N 6 worldwide equipment supplier *4 BGs + HQ Stainless Steel in Exhaust Systems Singapore, June

3 Leading market positions in our four core business lines #1 Worldwide 2011 sales: 5.8bn #3 Worldwide Complete Seats 2011 sales (1) : 5.0bn #1 Worldwide Frames & Mechanisms 2011 sales: 1.6bn #1 Worldwide 2011 sales: 3.7bn #2 Worldwide #1 in Europe 2011 sales: 1.8bn Futaba 26% 25% 25% global market share 12% global market share (2) 15% global market share 15% global market share 28% market share in Europe Other 26% Yutaka 6% 7% Eberspächer 10% Futaba 25% 15% 11% Sango Faurecia Tenneco Other 36% 29% 19% 4% 12% Magna Faurecia JCI Lear Other 67% Faurecia 15% 12% JCI 6% Brose Other Faurecia 15% 12% JCI 46% 10% IAC 10% 7% Visteon Magna Other 21% Rehau 8% 11% Magna 13% Peguform 28% 19% Faurecia Plastic Omnium (1) "Complete Seats" sales include "Seat Components" sales Source: Roland Berger analysis 3 Stainless Steel in Exhaust Systems Singapore, June

4 Faurecia Emissions Control Technologies A full system supplier 18,500 employees 70 operations (components plants &JIT) Complete lines >10M parts/yr 7 R&D centers 21 countries Manifolds >3 M parts/yr Catalytic converters >20M parts/yr Worldwide market leader with a presence on every automotive market segment and providing solutions for passenger and commercial vehicles Diesel Particle Filter >3M parts/yr Mufflers >20M parts/yr Stainless Steel in Exhaust Systems Singapore, June

5 Faurecia Emissions Control Technologies 70 operations in 21 countries Asia 17% IOP 8% Europe 41% Europe NAO Asia IOP NAO 34% NAO = North American Operations Stainless Steel in Exhaust Systems Singapore, June 2012 IOP = International Operations (India, Russia, South America) 5

6 Manufacturing Footprint 2011 佛吉亚排气亚太区 2011 年工厂分布 Changchun Chengdu Qingdao Wuhan Yantai Wuhu Busan Jangan Shanghai Anting Youngcheon Yokohama (Sales & D&D front office) FECT Plants 3 JITs 2 R&D Centers Chongqing Guangzhou Rayong Stainless Steel in Exhaust Systems Singapore, June

7 FECT Product Development Footprint in ASIA 佛吉亚排气亚太区产品研发中心 Jangan, Korea 韩国长安 Full development / testing capability 全面的开发和测试能力 Prototype facilities 样件设备完善 Bangalore, India 印度班加罗尔 Full CAD and CAE capabilities 全面的 CAD,CAE 能力 Expanding headcount and capability 员工进一步增加, 能力进一步加强 Investment in a fully equipped Technical Center under investigation (2013+) 2013 年后对完备的技术中心进行进一步投资的计划正在调研中 Shanghai, China 中国上海 Expanded state of the art R&D center opened in Apr 年 4 月新技术中心成立扩建 Further investment in 进一步追加投资 Full development / testing capability 全面的开发和测试能力 Prototype facilities 样件设备完善 Stainless Steel in Exhaust Systems Singapore, June

8 Faurecia Emissions Control Technologies Key CV emissions control technologies Complete CVE product offering Off-Highway On-Highway DOC/DPF Systems for Euro VI Truck Thermal regenerators Off road Selective Catalytic Reduction systems Stainless Steel in Exhaust Systems Singapore, June

9 Stainless Steel in Exhaust Systems Grades used Fabricated manifolds ( 1000 C ) Panel: 429 ~ 441 < 444 < 309 Pipes Panel : 409 < 439/441 < coated steels Catalytic converter / DPF Panel : 409 < 429 ~ 441 < < 309 Hot End Front muffler Panel : 409 < 439/441 < 304 Cold End Rear muffler Panel : 409 < 439 < < coated steels Stainless Steel in Exhaust Systems Singapore, June

10 FECT Stainless Steel Purchases (2012) Cold Rolled Flat, tubes & components ~380Kt 2016 forecast ~465Kt* *Considering only FECT sales growth NAO: 161 kt Europe: 102 kt Russia: 1 kt China: 44 kt Korea: 27 kt India: 6 kt Thailand 7 kt Mercosur: 20 kt South Africa: 14 kt *Includes Managed Direct, Tier2 & tubes Stainless Steel in Exhaust Systems Singapore, June

11 FECT Stainless Steel Purchases (2012) Split by grade Other Ferritic 4% % 304 8% Other Austenitic 1% Trend lower cost ferritic grades % % 409AL *Includes Managed Direct, Tier2 & tubes 9% Stainless Steel in Exhaust Systems Singapore, June

12 Light Vehicle market drivers for Exhaust Systems LV volumes continue to grow at 4.4% CAGR ( ) Emissions legislation deploys globally CO2/fuel economy legislation VOLUME PRICE Hybridization and downsizing/turbo OEMs pursuing Global engines/platforms strategy Increased OEM consolidation puts pressure on prices Stainless Steel in Exhaust Systems Singapore, June

13 Millions Millions Light Vehicle Volumes (< 3.5 Tons) from IHS 120 IHS LV Forecast (VOLUME) 35 IHS LV Forecast by Region (VOLUME) % 79% Gasoline Electricity Diesel % 21% NAO Europe China Japan India Korea Asia Brazil Russia ROW Global demand for LV is still strong with China leading the way. Stainless Steel in Exhaust Systems Singapore, June

14 China % CAGR Market Growth Anticipated Production of Light Vehicles from 2009 to 2016F K units 30,000 49% Vehicle Production Increase Rate (Y-O-Y) 50% 26,685 25,000 20,000 31% 16,824 17,211 18,580 20,460 22,239 24,262 40% 30% 15,000 10,000 12,834 20% 5,000 8% 10% 9% 9% 10% 10% 2% F 2013F 2014F 2015F 2016F 0% After booming increase in 2010, China Light vehicle market volume achieved 17.2 Million units production in 2011, and only achieved 2% of y-o-y increase comparing to 2010, which is mainly because of temporary market demand saturation and government macroeconomic regulatory (e.g. withdraw compensation of small engine vehicles and increase entry level of fuel economy vehicles). Stainless Steel in Exhaust Systems Singapore, June Information source: Faurecia Global LVP+CBU Adjustment

15 Korea Automotive Market: CSM forecast Source CSM Q ,000 3,500 3,000 74% % 75% 2,500 2,000 1,500 1, % 19% 5% 5% 18% 4% 0 CY 2011 CY 2012 CY 2013 CY 2014 CY 2015 CY 2016 Hyundai GMK RSM SYMC Unit: 000ea CY 2011 CY 2012 CY 2013 CY 2014 CY 2015 CY 2016 CAGR 2011 ~2016 CAGR 2012 ~2016 Hyundai 3,396 3,442 3,435 3,404 3,255 3, % -1.1% GMK % -4.0% RSM % -2.3% SYMC % 6.8% Total 4,593 4,644 4,562 4,484 4,292 4, % - 1.5% Stainless Steel in Exhaust Systems Singapore, June

16 Faurecia Emissions Control Technologies (F.E.C.T) in ASIA 佛吉亚排气控制技术亚太区 F.E.C.T is well developed in Asia with a turnover of 500 M product sales in 2011 佛吉亚排气亚太区 2011 年产品销售额 5 亿欧元, 其中 330 M in China (24 % Market Share) 中国市场 3.3 亿欧元 ( 占中国市场份额 24%) 150 M in Korea (23 % Market Share) 韩国市场 1.5 亿欧元 ( 占韩国市场份额 23%) 20 M Thailand (14 % Market Share) 泰国市场 2 千万欧元 ( 占泰国市场份额 14%) With more than 250 people located in 4 T.C. (China, Korea, India and Japan), F.E.C.T is able to support customers developments all over Asia 佛吉亚排气亚太区在 4 个技术中心 ( 中国, 韩国, 印度和日本 ) 有 250 个技术人员, 能在整个亚太范围内全力支持我们的客户 FECT Asia is a global development leader for major customers 佛吉亚排气亚太区面对众多客户, 处于全球行业领先的领导者地位 Innovative technologies are available in Asia to support new coming regulations in those countries 创新技术可在亚太范围内支持各国的排放标准 Main customers in Asia Others RENAULT-NISSAN Mazda Chineses OEM Ford GM Kia PSA HYUNDAI VW Stainless Steel in Exhaust Systems Singapore, June

17 Faurecia Emissions Control Technologies Future norms for LV will impose high performance emissions systems Emission regulations will deploy worldwide (light vehicles) Russia Euro 6 Euro 6 Euro 7 Euro 7 Tier 2 Tiers II Tier 2 with stricter requirements LEV III LEV III Euro 3 Euro 4 Euro 4 India Delhi + 11 cities Nationwide Euro 3 Euro 4 E. 2 Euro 3 Euro 3 Euro 4 Euro 4 Euro 4 China Beijing, Shanghai Nationwide Euro 4 Euro 3 Euro 4 Euro 4 Brazil Euro 4 Euro 6 (2013 / 2014) Utilization of NOx reduction systems for diesel engines Close-coupled packaging of products enabling NOx, HC, CO and Particulate matter reduction for performance and cost reasons China, India will have moved to Euro 4 standards in 2012 Large cities will adopt sooner more stringent norms Stainless Steel in Exhaust Systems Singapore, June

18 Faurecia Emissions Control Technologies Commercial vehicles systems confirmed to become a major growth market Emissions regulations for commercial vehicles Euro V Euro VI Euro VI EPA10 EPA 14 EPA14 Truck and off-road emissions control regulation will impose high-tech & high value systems Euro III Euro IV Euro IV Progressive extension of international norms to all major regions is underway Euro III Euro IV Euro IV Euro IV Euro V Euro V Stainless Steel in Exhaust Systems Singapore, June

19 Millions Millions Hybridization and Engine Downsizing World Powertrain Market % 3% 3% 3% 4% 4% 3% 2% 2% 70% 66% 63% 58% 54% 50% 1% 1% 75% 79% 84% 94% 89% 45% 41% 5% 9% 13% 18% 22% 27% 30% 33% 37% By % of the vehicles continue to have an Internal Combustion Engine 4% of the vehicles will be Strong Hybrid and 1% will be Electric Stop/Start ICE Electric Hybrid World Engine Downsizing/ Turbo charging evolution % 11% 21% 4% 10% 24% 3% 9% 27% 57% 55% 51% 48% 46% 4% 5% 6% 7% 8% 9% 9% % 8% 48% 2% 8% 46% By 2018 L2 &L3 turbo grow with CAGR of 38% L4 turbo grows with CAGR of 8% V6 engines show flat growth V8 engines shrink by 3% annually L2&L3 NA L2&L3 Turbo L4 NA L4 Turbo V6 V8 Stainless Steel in Exhaust Systems Singapore, June 2012 Source: IHS/Roland Berger 19

20 Price Market trend requires new developments and High temperature new grades Fabricated manifold Diesel Gasoline N/A Gasoline Turbo Increase of temperature due to need for regeneration and downsizing Inconel Austenitic 409 Single Wall Ferritic Ferritic K44X Single wall emerging Temperature C ,000 1,050 Diesel Today Diesel Tomorrow EU7+ Gas Turbo Today Gas Turbo Tomorrow? Stainless Steel in Exhaust Systems Singapore, June

21 Thanks for your attention! Stainless Steel in Exhaust Systems Singapore, June