Teksid


Teksid is an Italian company based in Carmagnola which specialises in the production of iron and castings for the automotive industry. Originally known as Ferriere Piemontesi, Teksid is owned by Fiat Chrysler Automobiles, and was owned by its predecessor Fiat S.p.A. since 1917. The company was renamed Teksid in January 1978.
In 1998, the French car manufacturer Renault 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, 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 FCA companies, and also sold to third party companies including Cummins, Ford and General Motors.
The company was chaired by Sergio Marchionne and the subsidiary is managed at group level by COO Riccardo Tarantini, alongside fellow subsidiary Comau as part of the Systems and Castingsoperating sector of FCA.
In December 2019, it was announced that Fiat Chrysler Automobiles had agreed to sell Teksid's global cast iron automotive components business to Tupy SA. 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 FCA’s portfolio.

Joint ventures

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