General information
Fimalac is an international financial services Group.
Strategic focus
Having completed the sale of hand tools business Facom Tools on January 1, 2006, Fimalac has withdrawn from European countries with low growth rates and from low added-value manufacturing businesses.
Now focused exclusively on financial services with ratings and financial risk management businesses, our Group has become a pure player in this sector. Our overriding objective is to build this business and we have no plans to branch out into any new business areas.
Fimalac operates through two companies of financial services :
- Fitch Ratings, a New-York based company specialized in financial ratings, the world's third largest ratings agency.
- Algorithmics, a Toronto-based company specialized in financial risk management, with a broad international presence.
Fitch Ratings and Algorithmics have been combined under the Fitch Group banner. As of 09/30/06 (9 months), Fitch Group reported revenues of nearly $565 million, with around 2800 employees.
Recent transactions
2007
- In April 2007, Fitch Ratings raised its interest in Korea Ratings, South Korea's leading rating agency, to 53%.
- In June 2007, Fimalac signed a contract for the construction of around 30,000 square meter office building in the prestigious Canary Wharf financial district in London.
2006
- In January 2006, the Group sold the French hand tools company Facom Tools.
- In the first half of 2006, Fimalac sold a 20% interest in the Fitch Group to the Hearst Corporation, one of the world's largest communications groups.
2005
- In January 2005, the Group acquired the Canadian enterprise risk management company Algorithmics.
- In the first half of the year, the Group sold the Italian designer furniture company Cassina.
- In the second half of the year, Fimalac sold the German garage equipment company Beissbarth.
|
