Fiat Chrysler said Monday it was selling its Italian auto parts unit Magneti Marelli to Japan’s Calsonic Kansei (CK) in a deal worth 6.2 billion euros. It said the merged company will rank in the top 10 auto parts suppliers globally with annual sales of 15.2 billion
Fiat Chrysler said Monday it was selling its Italian auto parts unit Magneti Marelli to Japan’s Calsonic Kansei (CK) in a deal worth 6.2 billion euros.
It said the merged company will rank in the top 10 auto parts suppliers globally with annual sales of 15.2 billion euros ($17.6 billion).
There will be a multi-year supply agreement with Fiat Chrysler.
This agreement will underscore « the combined entity’s commitment to maintain Magnetti Marelli’s operations in Italy and sustain its industrial footprint and employment levels, » a joint statement said.
