PARIS -- Faurecia abandoned its financial guidance, due to the hit to its business caused by the coronavirus crisis.
"We are going through an unprecedented crisis of an uncertain duration, even if we are seeing positive signs of normalization coming from China," Faurecia CEO Patrick Koller said in a statement on Friday
Faurecia said it had a solid balance sheet, with 900 million euros ($993.5 million) of credit lines available.
The French supplier said it is preparing the restart of production at its sites in Europe and North and South America. The company will use its experience of resuming production in China where all its factories have restarted production, with an average capacity utilization rate of around 70 percent.
Automotive News Europe contributed to this report