TU-TESL

• 22

On December 22, it was officially learned from FCA that FCA had reached an agreement with Tupi on the sale of its global cast iron auto parts business. Previously, the parts business was operated by texei, a subsidiary of FCA. Under the agreement, FCA intends to sell texci's manufacturing facilities in Brazil, Mexico, Poland and Portugal, as well as an interest in a joint venture in China, with a business value of EUR 210 million. The transaction price will be subject to customary acquisition price adjustments and will be paid at the expected end of the transaction in the second half of 2020. The proposed transaction is subject to customary closing conditions, including the approval of antitrust authorities. Texcel's cast aluminum business is not part of the proposed acquisition and remains a strategic asset of FCA. It is understood that the purchaser Tupi company is a leader in the cast iron industry, specializing in the development and production of highly engineered structural cast iron parts. "Tupi has always been a strategic supplier to the cast iron structural parts industry," said Scott gabardine, FCA's global chief manufacturing officer. Texel and Tupi will work together to develop new technologies to help our products continue to succeed. The proposed deal represents another important step in Fick's implementation of the group's business plan. "