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Novares Group
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] HistoryThe 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?] FiguresRevenue in M€/Workforce[11]
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