Calsonic, Magneti Marelli Merger Yields New Name

Marelli is the new name of the automotive partsmaking entity created by this month’s merger of Japan's Calsonic Kansei Corp. and Italy's Magneti Marelli SpA.

Both companies are held by CK Holdings Co. Ltd., which is owned by New York City-based private equity firm KKR & Co. The €5.8 billion ($6.5 billion) sale of Magneti Marelli to CK was finalized earlier this month.

The companies say they opted for Marelli as their name because it is more widely recognized than Calsonic, a well-known brand primarily in Asia and Japan.

The combined companies employ 62,000 people at 170 facilities and research centers in Europe, the Americas and Asia Pacific. The company is headed by Calsonic CEO Beda Bolzenius and will be operated through co-headquarters in Saitama, Japan, and Corbetta, Italy.