Teksid S.p.A.
TypeSubsidiary
FoundedDecember 1978 (December 1978)
HeadquartersCarmagnola, Italy
ProductsIron and castings for the automotive industry
Owners
Websitewww.teksid.com

Teksid S.p.A. is an Italian company based in Carmagnola which specialises in the production of iron and castings for the automotive industry. Originally known as Ferriere Piemontesi, Teksid is owned by Stellantis, and was owned by its predecessors Fiat Chrysler Automobiles (2014-2020) and Fiat S.p.A. (1978-2014). The company was renamed Teksid in January 1978.[1]

In 1998, the French car manufacturer Renault merged its foundry business with Teksid, creating a change of ownership with a share 66.5%/33.5% to Fiat and Renault respectively.[2] By 2013 Fiat grew its share to 84.8% and Renault retains 15.2%.[3]

The company owns seven plants (four in Europe, and one each in South America, Central America and China), and employs 7,000 persons. Teksid produces engine blocks, cylinder heads, engine components, transmission parts, gearboxes and suspensions. In 2012 the company reported total revenues of €780 million, down 15% over 2011.[1]

Teksid's products are used by various Stellantis companies, and also sold to third-party companies including Cummins,[4] Ford and General Motors.

The company was chaired by Sergio Marchionne and the subsidiary is managed at group level by COO Riccardo Tarantini, alongside fellow subsidiary Comau.[5]

In December 2019, it was announced that Stellantis had agreed to sell Teksid's global cast iron automotive components business to Tupy S.A. The sale is expected to close in the second half of 2020. Teksid's aluminum business is not included in the transaction and will remain a strategic asset in Stellantis' portfolio.[6]

Joint ventures

In China, Teksid has a 50% ownership of Hua Dong Teksid Automotive Foundry Co. Ltd.

References

  1. 1 2 "Teksid SpA". Business Week. Archived from the original on January 2, 2015. Retrieved 2 January 2015.
  2. ↑ "Renault and Fiat Plan To Merge Foundry Units". New York Times. 10 November 1998. Retrieved 2 January 2015.
  3. ↑ "2013 Annual Report" (PDF). FCA Group. p. 322. Retrieved 2 January 2015.
  4. ↑ "Teksid Receives Environmental Leadership Award". Global Casting Magazine. 26 September 2014. Retrieved 2 January 2015.
  5. ↑ "Management". FCA Group. Retrieved 2 January 2015.
  6. ↑ "FCA Reaches Agreement to Sell Teksid Cast Iron Components Business to Tupy" (PDF). FCA Group. Retrieved 5 June 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.