Engine filter and suspension component manufacturer Sogefi says the soaring popularity of diesel will create significant opportunities in Europe.
Addressing media at this week’s EquipAuto show in Paris, Sogefi CEO Emanuele Bosio outlined his thinking following the formal acquisition of French automotive components group Mark IV Systemes Moteurs for around EUR150m (US$206m).
Go deeper with GlobalData
“Diesel is a profitable product and is the product of the future,” said Bosio. “Oil is going down, everybody knows it and diesel is going up – we are a diesel specialist.”
Separately, the Sogefi CEO noted the company was “number one” in the Brazilian and Argentinian markets, while Mercosur countries accounted for 24% of sales, although he highlighted “no presence” in the challenging South Korean and Japanese sectors.
France accounts for 22% of business, with the two main vehicle manufacturers accounting for the lion’s share. Germany, Italy and the UK are the next three largest markets.
Bosio added Sogefi was the number three in Europe for filtration, but insisted ranking was not necessarily the most crucial factor.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“It is not important to be number two or three,” he said. “What is important is the result and profitability. I believe in terms of profitability, we are number one.
“The message is Sogefi is a player in the aftermarket, but a player with a very solid and strong presence in original equipment.”
For his part Systemes Moteurs managing director Luc Schwab noted its acquisition by Sogefi cemented a relationship that had gone back to 1999 for the engine specialist.
“We are clearly dedicated to engine systems and 80% of our production is delivered to engine plants,” he said.
Mark IV Systemes Moteurs claims it is one of the largest air intake and engine cooling producers in the world with revenues of around EUR250m last year and slightly more than 1,000 employees.
It has eight production plants – three of which are in France – while the remainder are in Canada, Mexico, Romania, China and India.
