Novares Group
| Industry | Automotive |
|---|---|
| Founder | Charles Manni |
Key people |
|
| Products | plastic car parts |
| Revenue | €1.2 billion (2023) |
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]
History
The company was started in 1955 by Charles Manni.[1]
During the 2008 financial crisis, 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]
Figures
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 |
References
- ^ a b Article in the New Trader Archived 20 July 2001 at the Wayback Machine
- ^ Group Executive Profile on Bloomberg Businessweek
- ^ "From regional supplier to global player - NOVARES". Novares. Retrieved 15 September 2020.
- ^ Redundancies at Mecaplast Archived 24 February 2014 at the Wayback Machine
- ^ Article on FMEA Investment by Charlotte Eyre from European Plastic News
- ^ Mecaplast sets up new facility in Chennai Archived 13 February 2014 at archive.today
- ^ European leader in Automobile Equipment starts manufacturing at Mahindra World City
- ^ France's Mecaplast starts construction of Plant in Zrenjanin on 26 September 2011
- ^ a b Audrey Laforest (24 September 2019). Novares prepares for the long term with innovation strategy. Plastics News. Accessed September 2020.
- ^ [press release] (18 May 2020). Novares is resuming its operations in Europe following a major liquidity injection. Automotive World. Accessed September 2020.
- ^ Website:Key figures