Sogefi S.p.A.

Company Profile

■URL

http://www.sogefi.it

■Address

Via Flavio Gioia 8, 20149 Milan, Italy

Business Overview

-The Company is organized in two business segments;

  • Engine Systems Business Unit, includes Fluid filters, Air intake and Cooling products and;
  • Suspension Components Business Unit, includes Car springs and various suspension products.

-Breakdown of revenue for FY ended Dec. 2014;

  • Engine Systems Business Unit: 62.7%
  • Suspension Components Business Unit: 37.5%

-They have 4 suspension brands: Allevard Rejna, LP-DN, Sidergarda Mollificio Bresciano, United Springs

-In 1989, the Company and NHK Spring Co., Ltd. have established a joint venture, Iberica de Suspensiones S.L., in Alsasaua (Spain) to produce suspension coil springs and stabilizer bars.

Competitive positioning (for FY ended Dec. 2014)

  • Key engine components technologies (Filters, Air & Cooling system): Amongst the world leaders.
  • Suspensions: 1st producer in Mercosur, 2nd producer in Europe

Shareholders

-Listed on the STAR segment of the Italian Stock Exchange (As of Jun. 22, 2016)
Name or Company name Investment ratio (%)
CIR S.p.A. 55.98
Others 44.02
Total 100.00

Products

Suspension Components
-Coil springs
-Stabilizer bars
-Leaf springs
-FRP coil springs
-Precision springs

Engine System Components
Air & Cooling Systems
-Air intake systems
-Intake manifold systems
-Thermostat housings & Ducts
-Coolant pumps modules

Fluid Filtration Systems
-Oil filtration systems
-Petrol fuel filters
-Diesel fuel filtration systems
-Cam covers and oil separators

History

1980 Was founded in Mantova and became part of the CIR Group
1982 Acquired FIAAM FILTER S.p.A.
1986 Gained the control of Rejna S.p.A., Italian leader in car suspension components
1987 Acquired Mollificio Bresciano and Sidergarda, Italian leaders in
truck suspensions
Acquisition of AMSU S.A., one of the French leaders in car suspensions
1988 Acquisition of Coopers Filters Ltd. in Great Britain
1989 Established a joint venture, Iberica de Suspensiones S.L., in Alsasaua (Spain) with NHK Spring Co., Ltd. to produce suspension coil springs and stabilizer bars.
1991 Acquisition of Sogefi Industrial de Autopecas Ltda
Mar. 1992 Sold its 47.97% investment in Boge AG to the Mannesmann group.
Mar. 1993 Completed the sale of the assets and liabilities of Svama S.r.l., a wholly-owned trading subsidiary.
Jul. 1993 Entered into a 50:50 joint venture with Arvin Industries Inc. The new group, Timax Exhaust Systems (Holding) B.V., comprises the following companies: Ansa Marmitte S.p.A, the Rosi group, Timax UK Ltd., and Masterparts BV The joint venture company manufactures spare parts for automobiles and are sold in Europe.
1993 Formed a joint-venture in Russia named Interzapchast A/O which is 16% owned by Company, 25.3% by Allied-Signal, 25.3% by Federal Mogul and 33.3% by Lada AvtoVAZ.
Jun. 1994 Through its subsidiary, Sogefi Industria de Autopecas Ltda, acquired a 60% interest of 3 Argentinian companies: Winner S.A.I. y C., Ergio S.A.I. y C., and Ecosur S.A.I. y C.
Jul. 1994 Formed a joint venture with Allied Signal for the distribution of auto components in the after market in Europe, Russia, Africa, and the Middle East. Company acquired a 35% interest in the joint venture, which will operate under the trademark Allied Signal Aftermarket Europe. This new group will streamline distribution through France, Italy, United Kingdom, Spain, Germany, Turkey, Benelux, and Scandinavia, to serve more than 20,000 customers.
1994 Through its subsidiary Ateliers Metallurgiques de Saint Urbain S.A., acquired a 100% interest in Montal S.A. (France) and E.S. Metal S.A. (France).
Disposed of its interest in Svama S.r.l
Acquired an additional 20% interest in NAM S.A.
Decreased its interest in Sogefi Latino Americana Finance BV to 80%.
1995 Formation of Liaoyang KS Automotive Spring Company Ltd. in China
1996 The Company's Rejna subsidiary, in the suspension components division, acquired two companies from Germany's Krupp group: Luhn & Pulvermacher and Dittman & Neuhaus, which manufacture springs and stabilizer bars.
1997 Sold its remaining investment in Timax Exhaust Systems (TESH) to the American company Ansa Automotive Parts Distributors Inc.
Facilities in UK began their production of fuel-injection filters and new panel-type air filters for Japanese cars.
Started manufacturing diesel filters in Italy and filters for vehicle air conditioning units in France.
The building of new factories in San Nicola di Melfi and Fronville, Italy, for flexible components, division in Belo Horizonte, Brazil, and Buenos Aires, Argentina for filters division, and a new distribution center in Mantova.
Dec. 1998 Acquired the remaining 25% interest in Ansa Automotive Parts Distributors Inc, raising its ownership percentage to 100%.
1998 Formed a joint-venture with Italy's Fiamm Group, the market leader in horns for vehicles. Fiamm-Sogefi Buzinas Ltda is based in São Paulo, Brazil.
Feb. 1999 The Fiamm Filter group, a 100% subsidiary within Sogefi's filters division, acquired PBR SA, Spain's second-largest manufacturer of automotive filters.
Nov. 1999 Acquired Allevard Ressorts Automobile group
1999 Arto Iberica S.A., a subsidiary of Company, acquired a 100% interest in Industrial PBR S.A.
Arto Iberica S.A. changed its name to Sogefi Filtration S.A.
AMSU S.A., a subsidiary of the Company, acquired a 100% interest in the Allevard group.
Mar. 2000 Expanded in South America in the suspension sector.
A partial spin-off was carried out, transferring to the Company part of Rejna S.p.A., as well as its interests in the subsidiaries SMB S.r.l., LPDN GmbH, NAM S.A. and ARA S.A.
Sep. 2000 Acquired 100% stake in Sogefi Filtration S.p.A.
Inauguration of a new plant in France through a joint-venture company with Renault S.A. for the cold-production of shock-absorber springs.
Oct. 2000 Acquired the United Springs Group, and strengthened its position in the precision spring sector.
Nov. 2000 Bought the precision spring operations of United Industries (UK).
2000 The interests in the subsidiaries Ligget Argentina S.A. And Allevard Molas do Brazil Ltda (Brazil) were raised to 100% by acquiring the capital in the hands of minority interests. The Brazilian company also bought MACISA S.A.'s stabilizer bars business.
Sogefi Filtration S.p.A. sold a building for logistics management located in Valdaro and closed the plant in Castelbelforte to concentrate operations at the Mantua and Castelfranco Veneto sites.
Mar. 2001 Through its Subsidiary Allevard Rejna Autosuspensions S.A, increased its controlling stake in Allevard Rejna Technologie a Froid S.A. up to 100%, acquiring the remaining 51% from Renault.
Jul. 2001 Formed the company Senca S.c.a.r.l., active in the definition of contracts for the supply of electric power, gas and methane for its members.
Oct. 2001 Acquired the businesses of the Filtrauto group from Valeo. The deal was worth a total of 98 million euros (the figure may be lower after audit), including 30 million for the acquisition itself and 68 million comprising the debt of the French group.
Jun. 2002 Opened a new plant for the manufacture of suspension components (springs for shock absorbers and stabilizer bars for cars) in Moji Mirim Sao Paulo Brazil.
Nov. 2002 Signed agreements in Charleston (West Virginia) for the construction of a production plant for the manufacture of coil springs and stabilizer bars for the American market. Simest (Company for the development of Italian enterprises abroad controlled by the Ministry of Production Activities) is taking part in this project alongside Sogefi as an Italian financial partner, together with West Virginia Development Office.
Dec. 2002 Finalized the sale of 100% of the capital of its subsidiary Ansa Automotive Parts Distributors based in Macon (Georgia), a company specialized in marketing and selling silencers for luxury European cars in the USA.
2003 Established a new company for suspensions, Allevard Springs, U.S.A., Inc. (WV)
2004 From January 15, 2004, SOGEFI S.p.A. shares are listed in the STAR Stock Exchange segment.
In July the first industrial company of the Group, ALLEVARD SPRINGS USA (ASUSA), for the production and marketing of shock-absorber and stabilizing bars for car suspensions, starts working in USA.
Jan. 2006 The French subsidiary Filtrauto S.A. increased its scope of consolidation with a plant that makes plastic components in Argentan (France), the assets of which have been purchased with a view to integrating the production of certain strategic components.
May 2006 A new joint venture with a local operator, Zhejiang Universe Filter Co. Ltd., (China) was set up to produce and market filtration systems. The company is 70% controlled by Sogefi Filtration S.p.A. And started up production for OE and IAM customers in early 2007.
2011 Acquired French automotive components group Mark IV Systemes Moteurs from the American holding company Mark IV LLC.
Jan 2014 Opened two new plants in Shanghai, China.

Supplemental Information 1