Tupy to acquire the Brazilian and Portuguese cast iron operations of Stellantis-backed Teksid for $80m.

Tupy, a Brazilian multinational company dedicated to designing and manufacturing structural components, agreed to acquire the Brazilian and Portuguese cast iron operations of Stellantis-backed Teksid, an Italian company based in Carmagnola which specialises in the production of iron and castings for the automotive industry, for $80m. "The conclusion of this negotiation is a very important step for Tupy, and we are glad about the potential synergy among the companies. The transaction is part of Tupy's global growth strategy and increases its capacity to manufacture blocks and heads geared for capital goods," Fernando Cestari de Rizzo, Tupy CEO.