TERRASSON-LAVILLEDIEU, France—Delmon Group has appointed former Cooper Standard Automotive Inc. executive Sylvain Broux as its CEO and shareholder as part of its strategy to grow.
Broux replaced Pierre Delmon, the former CEO and founder, in October.
Having completed Cooper Standard's expansion plans in France as the European vice-president, Broux has set his sight on OEMs and bigger sales to expand Delmon's turnover from the current $62.7 million to $104.5 million by 2020.
To achieve that goal, the company has already secured businesses within the automotive and aerospace industry, which will grow sales to $78.4 million by 2019, Broux said.
The remaining $26.1 million, he added, will be achieved through to 2023 as the company will increase its footprint and take new businesses within the two sectosr.
In the aviation sector, the company recently developed new products and technologies in the anti-vibration and fire-proof seals for customers such as Safran.
"We now target other customers such as GE, Eurocopter and RollsRoyce," Broux added.
The French group, based in Terrasson-Lavilledieu, specializes in rubber-metal, anti-vibration and sealing systems for the automotive, aeronautics, railway and oil & gas industries.
The company employs 430, with subsidiaries in France and Spain and production partners in Romania and China.
According Broux, the group is aiming to convert the partnership in China into a local joint venture business.
"We are localising production in China for our European customers who need the same parts in China," he said.