Mexican Media Brands
Calsonic, Magneti Marelli Merger Yields New Name
Marelli is the new name of the automotive partsmaking entity created by the merger of Japan's Calsonic Kansei Corp. and Italy's Magneti Marelli SpA.
#electronics
Share
Marelli is the new name of the automotive partsmaking entity created by this month’s merger of Japan's Calsonic Kansei Corp. and Italy's Magneti Marelli SpA.
Both companies are held by CK Holdings Co. Ltd., which is owned by New York City-based private equity firm KKR & Co. The €5.8 billion ($6.5 billion) sale of Magneti Marelli to CK was finalized earlier this month.
The companies say they opted for Marelli as their name because it is more widely recognized than Calsonic, a well-known brand primarily in Asia and Japan.
The combined companies employ 62,000 people at 170 facilities and research centers in Europe, the Americas and Asia Pacific. The company is headed by Calsonic CEO Beda Bolzenius and will be operated through co-headquarters in Saitama, Japan, and Corbetta, Italy.
RELATED CONTENT
-
Internal Combustion Engines’ Continued Domination (?)
According to a new research study by Deutsche Bank, “PCOT III: Revisiting the Outlook for Powertrain Technology” (that’s “Pricing the Car of Tomorrow”), to twist a phrase from Mark Twain, it seems that the reports of the internal combustion engine’s eminent death are greatly exaggerated.
-
Autoline After Hours: The 2020 Cadillac XT6
Cadillac currently has three non-car vehicles in its lineup, the imposing and possibly venerable Escalade, the XT5, which started its existence as the SRX and is now crushing it in the market, and the most recent, the compact XT4, which is in a sweet spot for those looking to get into the premium portion of the market.
-
FCA Opens the Door to The Future
FCA introduced a high-tech concept vehicle today, the Chrysler Portal, at the event previously known as the “Consumer Electronics Show,” now simply CES.
