FCA: sells cast iron components unit to Brazil's Tupy
(CercleFinance.com) - Fiat Chrysler Automobiles has entered into an agreement with Brazil's Tupy for the sale of its cast iron automotive components unit, part of the Teksid business, the Italo-American carmaker said on Friday.
The planned sale includes Teksid's cast iron production facilities in Brazil, Mexico, Poland and Portugal, in addition to Teksid's stake in a joint venture in China.
Teksid's aluminum business is not included in the deal and will remain a strategic asset in FCA's portfolio, the group said.
The deal values the business at 210 million euros in terms of enterprise value, FCA said.
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