![]() | This article needs to be updated.(September 2020) |
Industry | Automotive |
---|---|
Founder | Charles Manni |
Key people |
|
Products | plastic car parts |
Revenue | €734 M (2015) |
Number of employees | 6000 in 2016 |
Website | novaresteam |
The Novares Group is a French manufacturer of car parts. It was started in 1955 by Charles Manni, and was previously known as Mecaplast. [1] Thierry Manni is chairman of the board, [2] and the chief executive officer is Pierre Boulet. Mecaplast merged with Key Plastics in 2016, and in 2017 the combined firm changed its name to Novares. [3]
The company was started in 1955 by Charles Manni. [1]
During the financial crisis of 2007–2008 some workers were made redundant, and some plants were closed. [4]
In August 2009 the company was nominated as a strategic supplier for PSA and Renault, and so benefitted from the Modernization Fund for Automobile Equipment Suppliers (FMEA) [5] which increased the company’s capital by €55 million/33% stake. The Chennai [6] plant in India [7] was opened on 3 June 2010. A factory was opened in Zrenjanin, Serbia, in 2012. [8]
In 2016 a majority holding in the company was sold to Equistone Partners Europe, a private investment company. Later that year, Mecaplast acquired and merged with Key Plastics, an American car parts company. About a year later the combined operation was renamed Novares. [9] In 2018 the group arranged for its shares to be floated on the Euronext Paris exchange, but the flotation was cancelled. [9]
In March 2020 the company received a cash injection af €45 million from its stockholders Equistone and BPI Paris. In April of that year it went into receivership. [10] [ unreliable source? ]
Revenue in M€/Workforce [11]
Year | Revenue/Workforce |
---|---|
1995 | 175/1175 |
1998 | 223/2100 |
2000 | 286/2800 |
2002 | 580/5500 |
2005 | 820/7800 |
2007 | 759/6200 |
2009 | 570/5800 |
2010 | 643/5500 |
2011 | 692/5500 |
2012 | 662/5600 |
2013 | 661/6000 |
2015 | 734/5600 |
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