The Novares Group is a French manufacturer of

car parts This is a list of auto parts, mostly for vehicles using internal combustion engines which are manufactured components of automobiles: Car body and main parts Body components, including trim Doors Windows Low voltage/auxiliary ele ...

. It was started in 1955 by Charles Manni, and was previously known as Mecaplast.Article in the ''New Trader''
Thierry Manni is chairman of the board, and the

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

is Pierre Boulet. Mecaplast merged with Key Plastics in 2016, and in 2017 the combined firm changed its name to Novares.

History

The company was started in 1955 by Charles Manni. During the

financial crisis of 2007–2008 Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of fi ...

some workers were made redundant, and some plants were closed. In August 2009 the company was nominated as a strategic supplier for PSA and Renault, and so benefitted from the Modernization Fund for Automobile Equipment Suppliers (FMEA) which increased the company’s capital by €55 million/33% stake. The

Chennai Chennai (, ), formerly known as Madras ( the official name until 1996), is the capital city of Tamil Nadu, the southernmost Indian state. The largest city of the state in area and population, Chennai is located on the Coromandel Coast of th ...

plant in

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

was opened on 3 June 2010. A factory was opened in

Zrenjanin Zrenjanin ( sr-Cyrl, Зрењанин, ; hu, Nagybecskerek; ro, Becicherecu Mare; sk, Zreňanin; german: Großbetschkerek) is a List of cities in Serbia, city and the administrative center of the Central Banat District in the autonomous pro ...

, Serbia, in 2012. In 2016 a majority holding in the company was sold to Equistone Partners Europe, a private investment company. Later that year, Mecaplast acquired and merged with Key Plastics, an American car parts company. About a year later the combined operation was renamed Novares. In 2018 the group arranged for its shares to be floated on the

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exchange, but the flotation was cancelled. In March 2020 the company received a cash injection af €45 million from its stockholders Equistone and BPI Paris. In April of that year it went into

receivership In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in ca ...

Figures

Revenue in M€/WorkforceWebsite:''Key figures''
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References

{{Reflist, refs= Audrey Laforest (24 September 2019)
Novares prepares for the long term with innovation strategy
''Plastics News''. Accessed September 2020. ress release(18 May 2020)
Novares is resuming its operations in Europe following a major liquidity injection
''Automotive World''. Accessed September 2020. Auto parts suppliers of France