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Fiat : Teksid S.p.A

Teksid specializes in the production of metallurgical products for the automotive industry. It operates in three areas of activity: cast-iron, aluminum and magnesium components.

Teksid’s roster of customers includes some of the world’s largest carmakers. It also supplies its products to manufacturers of commercial vehicles, farm tractors and diesel engines for a number of applications. Its products, which are sold primarily under the Teksid and Meridian brands, include: cast-iron and aluminum cylinder heads and crank cases for automobile and commercial vehicle engines, cast-iron and aluminum suspension components, cast-iron brake components, aluminum and magnesium gearbox components, and magnesium bodywork components.

Source: Fiat

Sale of Teksid For

Teksid S.p.A., a Fiat Group company and a leader in the field of metallurgical components for the automotive industry, and the Infun S.A. Group, headquartered in Barcelona (Spain), have signed a Letter of Understanding for the acquisition of a controlling interest in the Teksid For S.p.A. of Rovigo (Italy) by the Spanish Company. Teksid For produces components in gray cast iron and spheroidal cast iron for the automobile industry. The company has 280 employees and in 1999 it registered sales and revenues for about 80 billion lire.

The transaction will be finalized in the coming months after the necessary authorizations will be obtained. It is part of the strategy brought forward by Teksid to focus on core business productions. At the medium term Teksid is expected to maintain a minority interest in Teksid For, and to ensure support services and technical and managerial assistance.

The Infun Group is a fast-developing company in the field of metallurgical components with direct shippings to the main international car manufacturers. At present, production activities are carried out in plants located in Spain and China.
Infun employs about 800 people and, in 2000, its sales and revenues are expected to be superior to those of the previous year and should amount to 250 billion lire.

Turin, July 11, 2000

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