History and Company Profile

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COMPANY`S HISTORY

 

1954

On February 22, 1954, in Caxias do Sul, in the State of Rio Grande Sul, under a Fran-le brand, Indústria Francisco Stedile & Cia is founded. Francisco Stedile is founder of Fras-le companies, manufacturer of automobile parts, and Agrale, manufacturers of agricultural implements. In the 1960s, it made its first exports.

1970

In the 1970s, Fras-le went public, more precisely in 1971. Also in the 1970s, the Company signed a Technology Agreement in Germany and opened the first Research and Development Center (R&D) in Caxias do Sul, RS, Brazil.

1980

In the 1980s, new technology agreements were signed in England and United States. In this period, the first asbestos-free friction materials were launched. The 1980s were also marked by the acquisition of Lonaflex, a manufacturer of friction materials then located in the city of Osasco. Lonaflex`s operations were later on integrated into the Fras-le`s plant of Caxias do Sul, remaining under the “Lonaflex” brand up to the present.

1990

In the 1990s, the subsidiary Fras-le North America Inc. began to operate in the United States, which, at that time, was merely a commercial office located in the city of Northville, Michigan, adding later, a warehouse in the city of Gastonia, North Carolina, and the subsidiary Frans-le Argentina S.A. began to operate with a warehouse in the Province of San Martin, Argentina. In addition, Fras-le Andina Comercio y Representaciones Ltda. also started its activities with a sales office in the city of Santiago, Chile. This period was also marked by quality certifications achieved by the Company (ISO 9001 and ISO 14001)..

In 1996, the shareholding control of the Company was acquired by Randon S.A. Implementos e Participações and the Company became part of Randon companies.

2000

In the years 2000, the Company continued to expand. In 2008, Fras-le`s strategy of becoming a global company was boosted through the opening of the sales offices Fras-le Europe (Germany), Fras-le Mexico, and Fras-Le Middle East (Dubai), and by setting up a plant in China for the production of brake linings and pads for commercial vehicles; in addition, Fras-le acquired the friction material business from the American company Haldex, Alabama, United States.

2012

In early 2012. the Company took over the control and management of Freios Controil Ltda., located in São Leopoldo, in the great Porto Alegre, State of Rio Grande do Sul, a manufacturer of auto parts, brake components and solutions in automotive polymers, thus expanding and diversifying the product portfolio offered by the Company. In this same year, the shipment area of Fras-le plant located in Caxias do Sul, was also expanded by opening its new Logistics Center.

2013

In 2013, the shareholders of the Company resolved, in a General Meeting, to convert all of its preferred shares into common shares.

2014

2014 was marked by a Capital Increase and Share Bonus operation: 24,994,750 new common shares, nominative, book-entry shares with no par value were issued, allocating to shareholders, free-of-charge, as bonus shares, one new share for every four shares of the same class they hold, that is, bonus shares of 25% of the shares they hold. Therefore, the paid-in capital of the Company is now represented by 124,973,750 common shares.

2016

In 2016, as a result of the completion of the Shares Restricted Offering, a new Capital Increase took place in the amount of R$ 300 million, through the issuance of 92,592,593 new common shares. As a result of this increase, the paid-in capital of the Company is now R$ 600 million, represented by 217,566,343 common shares.

In December 2016, the Company signed an Association Agreement with Federal Mogul VCS Holding BV, for the acquisition of 80.10% of the quotas representing the capital stock of Federal-Mogul Friction Products Sorocaba Sistemas Automotivos Ltda., located in the city of Sorocaba, São Paulo, which manufacturers brake pads. With this transaction, the company acquired was re-named Jurid do Brasil Sistemas Automotivos Ltda. Fras-le effectively took over the control and management of the company in early 2018, after fulfilling all precedent conditions.

2017

In November 2017, the Company set up Fras-le Pan-americana, which is a commercial office in Bogotá, and a warehouse in the city of Cartagena, in a free zone. The coverage of this operation, in addition to Colombia, also extends to Peru, Ecuador, Central America and the Caribbean.

In December 2017, the Company acquired the following companies: (a) 100.0% of the capital stock of Armetal Autopartes, which, in turn, holds the shareholding control of Farloc Argentina (76.09% of capital stock), all based in Buenos Aires; and, (b) 100.0% of the capital stock of FANACIF S.A., with headquarters in Montevideo. The three companies operate in the segment of spare parts for light and heavy vehicles; ARMETAL is one of the largest distributors of auto parts in Argentina. This way, a complementary product portfolio was added, which includes components for brake and suspension systems, engine, bottled liquids, and other miscellaneous products for motor vehicles.

In late 2017, the Company signed an Association Agreement with ASK Automotive Private Limited (“ASK”), to set up a company in the town of Manesar, Haryana, India, under the name of ASK Fras-le Friction Private Limited (” ASK Fras-le “), to produce brake linings and brake pads. The new company starts its operations in early 2018, when Fras-le will effectively take over the control of the business, with a stake corresponding to 51.0% of the capital stock.

2018

In January 2018, the Company entered into an association agreement with Federal Mogul VCS Holding BV (“VCS”), for the composition of a joint venture, located in the city of Sorocaba, State of São Paulo, named Jurid do Brasil Sistemas Automotivos Ltda (“Jurid”), with the objective of forming a strategic partnership to better serve assembler and aftermarket customers in the light vehicle market in Brazil and South America. Fras-le effectively assumed control of the business, with participation shareholding corresponding to 80.10%% of the capital stock.

On October 5, 2018, the Company acquired Jofund SA, headquartered in the city of Joinville (SC), which operates in the auto parts market under the Fremax brand, expanding its product portfolio and seeking to consolidate its leadership position. market share in the auto parts segment in Brazil, also reinforcing its product mix for global offer.

2020

On October 1, 2020, the Company acquired Nakata Automotiva S.A., headquartered in the city of Osasco, State of São Paulo, in order to strengthen its operations in the auto parts replacement segment and increase its product portfolio.

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2020