Magneti Marelli
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| Sector | Mechanical engineering |
Magneti Marelli was an Italian multinational company specialized in high-tech products and systems for the automotive industry. [1]
Magneti Marelli, mechanical engineering for the automotive industry
A highly specialized company in the supply of products and systems for the automotive industry, Magneti Marelli was founded in 1994 as a result of the integration process of the Magneti Marelli Group, active in the production of automotive components, with the Turin-based Gilardini, a manufacturer of industrial components. The operation was decided by the Fiat Group, which controlled both industrial entities. At the time of its founding, Magneti Marelli had 50 plants and about 23,000 employees, with a consolidated revenue exceeding 5 trillion lire.
Magneti Marelli between innovation and development abroad
Magneti Marelli immediately embarked on an intense path of internationalization: in 1994, a joint venture was created with Guangzhou Motor Vehicle Instruments in Canton, China, which led to the establishment of Magneti Marelli Guangzhou Motor Vehicle Instruments Ltd., 70% owned by the Italian company. In 1996, the first subsidiary was opened in the United States. Together with the Japanese Nippondenso, Magneti Marelli Denso was also created in Argentina, aimed at producing air conditioning systems for cars. Also in 1996, Magneti Marelli acquired the majority of Joao De Deus Filhos S.A., a Portuguese component company active in the production of engine cooling systems.
Magneti Marelli acquires COFAP and the Melfi plant
The growth of Magneti Marelli continued with several acquisitions at the international level. Among these, in 1997, the control of 70% of COFAP, a Brazilian vehicle components company. In 1998, the acquisition of the Melfi plant, in the province of Potenza, which was then owned by the American Arvin Industries, also took place. The following year, together with Bosch, the company founded Automotive Lighting for the production of headlights for backlighting. It also acquired control of the Seima Group.
Growth of international presence in the 2000s
The company further strengthened its international presence during the 2000s along with new innovation projects. In 2003, for example, it developed Flex technology in Brazil for engines running on alcohol or gasoline. In 2005, it became the majority shareholder (74.9%) of Automotive Lighting. Between 2009 and 2010, Magneti Marelli also launched new joint ventures in India and China.
The sale to CK Holdings and the birth of Marelli Holdings
Magneti Marelli remained under the control of the Fiat Group, which had become Fiat Chrysler Automobiles, until 2018. In that year, the company was sold for 6.2 billion euros to the Japanese CK Holdings, controlled by the American investment fund KKR. The operation was completed on May 2, 2019. The last operation in the history of Magneti Marelli was the subsequent merger of its activities with those of Calsonic Kansei, also controlled by CK Holdings, to create Marelli Holdings.
Related topics
- Mechanical engineering
Notes
- ↑ Magneti Marelli, su it.wikipedia.org.