Teksid

Teksid logo

Teksid (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 Fiat Chrysler Automobiles, and was owned its predecessor Fiat S.p.A. since 1917. 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] In recent years Fiat has grown 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 the globally 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 FCA companies, and also sold to third party companies including Cummins,[4] Ford and General Motors.

The company is chaired by Sergio Marchionne and the subsidiary is managed at group level by COO Riccardo Tarantini, alongside fellow subsidiary Comau as part of the Systems and Castingsoperating sector of FCA.[5]

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. 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.
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