Tupy To Buy Teksid´s Cast Iron Components Business From FCA

(RTTNews) - Tupy S.A., a Brazilian company specialized in developing and manufacturing engineered structural cast iron components, said that it agreed to buy Fiat Chrysler Automobiles's global cast iron automotive components business for 210 million euros. The business is operated through FCA's subsidiary Teksid S.p.A.

In addition, Tupy will grant commercial bonuses and discounts, typical of the industry, in connection with the agreed long-term supply arrangements.

The proposed transaction includes Teksid's production facilities in Brazil, Mexico, Poland and Portugal, in addition to Teksid's interest in a joint venture in China, Teksid's engineering office in Italy and the sales office in the United States.

Tupy noted that Teksid's aluminum business is not included in the transaction and will remain part of FCA.