Teksid S.p.A. is an Italian company based in

Carmagnola Carmagnola (; pms, Carmagnòla ) is a '' comune'' (municipality) in the Metropolitan City of Turin in the Italian region Piedmont, located south of Turin. The town is on the right side of the Po river. The nature of the soil determined over ...

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. In 1998, the French car manufacturer

Renault Groupe Renault ( , , , also known as the Renault Group in English; legally Renault S.A.) is a French multinational automobile manufacturer established in 1899. The company produces a range of cars and vans, and in the past has manufacture ...

merged its foundry business with Teksid, creating a change of ownership with a share 66.5%/33.5% to Fiat and Renault respectively. By 2013 Fiat grew its share to 84.8% and Renault retains 15.2%. 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. Teksid's products are used by various Stellantis companies, and also sold to third party companies including

Cummins Cummins Inc. is an American multinational corporation that designs, manufactures, and distributes engines, filtration, and power generation products. Cummins also services engines and related equipment, including fuel systems, controls, air ...

Ford Ford commonly refers to: * Ford Motor Company, an automobile manufacturer founded by Henry Ford * Ford (crossing), a shallow crossing on a river Ford may also refer to: Ford Motor Company * Henry Ford, founder of the Ford Motor Company * Ford F ...

and General Motors. The company was chaired by

Sergio Marchionne Sergio Marchionne (; 17 June 1952 – 25 July 2018) was an Italian-Canadian businessman, widely known for his turnarounds of the automakers Fiat and Chrysler, his business acumen and his outspoken and often frank approach, especially when dealing ...

and the subsidiary is managed at group level by COO Riccardo Tarantini, alongside fellow subsidiary

Comau Comau (''COnsorzio MAcchine Utensili'') is an Italian multinational company in the automation field based in Turin, Italy, and part of the automaker Stellantis. The company is present in 13 countries and employs 4,000 people and provides service ...

. 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.

Joint ventures

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

References

External links

*
HD Teksid (Chinese JV)
{{Stellantis Stellantis Steel companies of Italy Manufacturing companies established in 1978 Italian companies established in 1978 Italian brands