Faurecia, Valeo please as profits motor higher

Newswire

By Rebecca Harrison and Benoit Van Overstraeten PARIS, July 23 (Reuters) - French auto part makers Faurecia and Valeo cheered investors with forecast-beating first-half profits buoyed by a car industry revival plus pledges of more growth, but said on Friday steel prices clouded the horizon. Faurecia , 71.5 percent owned by manufacturer PSA Peugeot Citroen , wielded cost cuts to almost double net profit, and raised its sales forecast for the full year thanks to a stronger-than-expected ...

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