FCA, completed the sale of the subsidiary Teksid

A few days after the signature for the fusion matching with PSA, FCA , has given way to the business of the cast iron components of the subsidiary Teksid to the company the brazilian Tupy. This is an operation for a value of € 210 million, which comes after the sale of the Magneti Marelli plant in Calsonic Capital.

Tupy is a leading company in the field of cast iron, which is specialized in the development and production of structural components made of cast iron with a high content of engineering for numerous applications in the capital goods at the service of different industries. The transfer involves manufacturing of cast iron Teksid in Brazil, Mexico, Poland and Portugal, and the participation held by the controlante of FCA in a joint venture in China.

In the transaction is not part of the business linked to the aluminum Teksid, which they explain by the FCA, will continue to be a strategic asset in the group. “Tupy has always been a strategic supplier in the field of the structural components in cast iron,” explains Scott Garberding, Global Chief Manufacturing Officer of FCA -. Together, Teksid and Tupy will continue to develop new technologies to support the continuity of the success of our products. The transaction represents another important step in the implementation of the business plan of FCA”.