Calsonic buys Fiat Chrysler parts unit

Advanced Search

The story appears on

Page A10

October 23, 2018

GET this page in PDF

Free for subscribers

View shopping cart

Calsonic buys Fiat Chrysler parts unit

Source: Agencies | 00:01 UTC+8 October 23, 2018 |

Print Edition

Japan’s Calsonic Kansei, owned by US private equity firm KKR, has agreed to buy Fiat Chrysler’s Magneti Marelli for 6.2 billion euros (US$7.1 billion) to form the seventh-largest independent car parts supplier.

The first big deal by FCA’s newly-appointed chief executive Mike Manley, who took over in July after the sudden death of long-time boss Sergio Marchionne, creates a company with revenue of 15.2 billion euros, the companies said.

The new Magneti Marelli CK Holdings is likely to cut costs through synergies and expand its customer base as components makers try to keep up with a shift by carmakers into autonomous driving, connected cars and electric vehicles.

“This combination with Calsonic Kansei has emerged as an ideal opportunity to accelerate Magneti Marelli’s future growth,” Manley said of the FCA unit, which specializes in lighting, powertrain and high-tech electronics.

Auto

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Calsonic buys Fiat Chrysler parts unit

Email this to your friend