seen their European production grow 14% each
            
            
              in 2011. Overheating of the German industry
            
            
              has also generated relatively significant
            
            
              shortages among heat treatment and surface
            
            
              treatment subcontractors. For their part, French
            
            
              manufacturers have not been as successful,
            
            
              but nevertheless limited the decline in their
            
            
              production (-3% for PSA, -2% for Renault SA),
            
            
              despite a sharp decline in domestic sales.
            
            
              
                LISI AUTOMOTIVE took
              
            
            
              
                advantage of this
              
            
            
              
                fundamental move
              
            
            
              Despite the decline in new car sales in Europe,
            
            
              the production of its major customers
            
            
              increased locally by 5% in 2011 over 2010,
            
            
              driven by exports to the large Chinese
            
            
              and American markets. The sales of the
            
            
              division’s products to German manufacturers
            
            
              experienced two-digit increases. LISI
            
            
              AUTOMOTIVE’s “fasteners”business has
            
            
              particularly benefited from the efforts
            
            
              implemented by all manufacturers to conquer
            
            
              and capture the business of fast-growing
            
            
              emerging markets, by producing for their non-
            
            
              European assembly plants, especially in Russia,
            
            
              China and South America, where car sales are
            
            
              growing rapidly. In Brazil, where production
            
            
              is also very dynamic, the number of vehicles
            
            
              per 1,000 inhabitants will reach 208 in 2015
            
            
              against 153 in 2000.
            
            
              Efforts granted and ongoing projects have
            
            
              enabled LISI AUTOMOTIVE to enjoy the
            
            
              gratitude of several of its customers. The
            
            
              division indeed obtained in 2011 the status of
            
            
              a major supplier to PSA, an award based on
            
            
              
                Transfer to Puiseux
              
            
            
              Announced in 2010, the closing down of the plastic clip
            
            
              site of Bonneuil-sur-Marne, acquired fromAcument, and
            
            
              the consolidation of the injection operations in Puiseux,
            
            
              nearCergy-Pontoise (Val-d’Oise),were conductedaccording
            
            
              to the schedule. The transfer was accompanied by the
            
            
              creation of a second building (Puiseux II) for the storage,
            
            
              sorting, assembling, packaging and shipping. It has
            
            
              also helped to rebalance the share of plastic injection
            
            
              compared to the metal production, and to streamline
            
            
              the metal/plastic clip cutting activity. The site, whose
            
            
              sales revenue increased significantly in 2011, now has
            
            
              a fleet of 50 injection molding machines and has a
            
            
              sufficient critical size for its plastic activities. It reports
            
            
              to the Clip Solutions Business Group and must now take
            
            
              advantage of the synergies achieved to develop metal/
            
            
              plastic subset assembly activities for our parts suppliers
            
            
              and manufacturer clients.