Faroex favours strategic alliances as a means of achieving its growth objectives as well as offering more to its customers.
Our strategic agreements facilitate the development of new products and processes, access the benefits of shared supply chains, and provide channels to allied and new markets.
Our clientele benefit from Faroex’s dedication to continuous improvement and innovation - providing access to the most up-to-date technological developments and innovative business practices. At Faroex, our philosophy is to anticipate the needs of our clientele.
These alliances align with Faroex’s strategy for growth and diversification and permit:
- Common expertise, facilitating the bilateral transfer of knowledge;
- Common development of markets;
- Integrated business solutions for original equipment manufacturers;
- Group purchases to increase economies of scale
A strategic alliance was recently concluded with a major, international supplier of raw materials critical to maintaining Faroex’s competitiveness, quality, and responsiveness. Long term supply agreements were also signed, ensuring the stability of the business in respect of the availability of materials, and a framework agreement which stabilized price variations.
A strategic alliance was also recently concluded with CK Technology - a division of Cascade Engineering Inc. of Grand Rapids, MI - in which both firms jointly offer serial manufacturing services to the heavy transportation industry, leveraging a competitive blend of their industry-leading technologies. Faroex brings 34 years of composite design and manufacturing to the alliance; CK provides access to regional clusters of transportation OEMs in the US, class "A" paint capability, and final assembly. CK's expertise in injection molding exterior and interior components and assemblies for heavy truck will be augmented by Faroex's capabilities in RIM DCPD for medium-to-low-voloume OEMs.