FZSONICK a Company of ELETTRA 1938 Group
Thursday, December 10, 2020
ELETTRA 1938: new corporate structure to focus on innovation and new important development opportunities
ELETTRA 1938 (formerly FIAMM) active in the automotive and energy systems for over 80 years, is following the direction of innovation by putting its know-how at the forefront of the evolution that is revolutionizing the automotive world - the so-called “CASE” (Connected, Autonomous, Shared, Electric) and optimal management of energy produced from renewable sources.
To make the execution of its industrial projects more efficient and overcome the effects of COVID, the ELETTRA Group has defined a new corporate structure. With this new corporate structure Fiamm Componenti Accessori - FCA S.p.A. becomes the parent company through the incorporation of its parent company ELETTRA 1938 S.p.A. of which it will assume the company name: Elettra 1938 S.p.A.
The new Elettra 1938 S.p.A., through the conversion into equity of the shareholder loan granted at the time, will take control, with a 78% stake, of the company FZSONICK SA.
The new corporate structure will allow to make the most of all possible synergies within the various Group’s companies, it will generate a reduction in the overall management and administrative costs, and it will facilitate the coordination of the various activities by improving the efficiency in their execution.
After the divestiture of the lead-acid battery business and while facing the COVID pandemic, where the world seems to stop, ELETTRA Group has chosen to look ahead and focus itself in the market with innovative products and solutions that meet the new needs of the automotive and energy markets, which areboth rapidly evolving and have significant growthrates in the most innovative segments.
Fiamm Components Accessories - FCA, world leader in the sector of acoustical devices for the automotive market, has successfully launched the production and marketing of innovative AVAS (Acoustic Vehicle Alert System) solutions dedicated to electric and hybrid vehicles and has joined the traditional production and sale of vehicle antennas a series of revolutionary “smart antennas” that facilitate the management of communication signals in vehicles.
FZSONICK, world leader in the production and sales of "sodium metal chloride" storage systems, a technology that uses materials abundantly present in nature, safe and completely recyclable, offers intelligent solutions that optimize the management of energy needs both in back-up and energy storage applications guaranteeing the best performance with absolute safety and in any environmental context.
The new corporate structure will allow ELETTRA to spend more attention to the evolution of the markets in which it operates and to the growing needs of its customers; it will improve the Group's capital structure by creating the conditions for reducing debt and maintaining adequate liquidity; it will help the improvement of economic results through the optimization of management costs.
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