-The world's largest producer of gray and nodular iron castings and also a global leader in production technologies for aluminum cylinder heads and engine components.
FCA reaches agreement to sell Teksid cast iron components business to Tupy
-On December 20, FCA announced that it has entered into an agreement with Tupy S.A. for the sale of FCA’s global cast iron automotive components business, which is operated through FCA’s subsidiary Teksid S.p.A. (“Teksid”). The proposed sale includes Teksid’s cast iron production facilities in Brazil, Mexico, Poland and Portugal, in addition to Teksid’s interest in a joint venture in China. Teksid’s aluminium business is not included in the transaction and will remain a strategic asset in FCA’s portfolio. The agreement values the business at EUR 210 million enterprise value. Consideration, subject to customary purchase price adjustments will be paid at closing expected in the second half of 2020. The proposed transaction is subject to customary closing conditions, including the receipt of antitrust approvals.
(FCA press release on December 20, 2019)
-FCA (Fiat Chrysler Automobiles) owns 100% of the Company.
-Grey iron cylinder blocks for light vehicles
-Engine blocks and heads for truck engines
-SiMo exhaust manifolds
-Nodular iron crankshafts
-Rear suspension arms
|1917||Through its acquisition of Ferriere Piemontesi, formerly Vandel & C., Industrie Metallurgiche Torino and the Ferriera di Buttigliera Alta (Avigliana), Fiat secured the facilities needed to provide itself with iron and steel and metallurgical products.|
|1960-70's||Fiat hived off its operations into independent companies that also opened their doors to non-Fiat customers.|
|Jan. 1978||The Company was composed of 4 operating divisions entitled Steels, Foundries, Processing and Tools.|
|1982||Finsider Group took over the manufacturing of special steels and long products, the production and cold rolling of stainless steels and the cold rolling of ordinary steels.
Regrouped in 3 divisions: Iron Foundries, Aluminum Foundries and Steel Components.
|2002||Fiat sold the aluminum unit of the Company to U.S.-based Questor Management Company.|
|Mar. 2007||The disposal of Magnesium Business was finalized.|
FCA acquired the remaining 15.2% interest in Teksid from Renault.
Supplemental Information 1
>>>Business Report FY ended Dec. 31, 2006
>>>Business Report FY ended Dec. 31, 2007
>>>Business Report FY ended Dec. 31, 2008
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>>>Business Report FY ended Dec. 31, 2010
>>>Business Report FY ended Dec. 31, 2011
>>>Business Report up until FY ended Dec. 31, 2014
Note: A figure in brackets ( ) indicates a loss