Fiat signs an agreement with Magneti Marelli for the sale of automotive components | Economy

Fiat signs an agreement with Magneti Marelli for the sale of automotive components | Economy



Fiat will sign a multi-year supply agreement with Magneti Marelli CK Holdings. The new alliance will operate under the name of Magneti Marelli CK. The agreement, which represents a transaction value of 6,200 million euros, is expected to close in the first half of 2019. The transaction is subject to regulatory approvals and other closing conditions.

The combined businesses of Calsonic Kansei and Magneti Marelli will create the seventh largest independent firm in the world of suppliers of automotive components, with a combined revenue of 15.2 billion euros. The new entity will operate in about 200 facilities and research and development centers in Europe, Japan, America and Asia Pacific.

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