Renault Argentina

Renault Argentina S.A.

Type	Subsidiary
Industry	Automotive
Predecessor	Industrias Kaiser Argentina
Founded	1975 (1975)
Headquarters	Buenos Aires, Argentina
Key people	Fernando Pelaez (CEO)
Revenue	ARS12.9 billion (2012)
Total assets	ARS4.9 billion (2012)
Owner	Renault SAS (96.33%) RDIC (3.67%)
Number of employees	3,656 (2012)
Parent	Renault
Subsidiaries	Centro Automotores S.A. and Centro del Norte S.A. (car dealerships) Metalúrgica Tandil S.A. (metallurgical) Plan Rombo S.A. and Courtage S.A. (automotive financing)
Website	renault.com.ar

Renault Argentina is the subsidiary of Renault in Argentina. It is one of the oldest Renault operations in Latin America and is ranked consistently in first place by sales between the local automakers. Renault Argentina was officially established in 1975, but the French company had a long presence in Argentina before that.

Renault partnered with Industrias Kaiser Argentina, a company created by Kaiser-Frazer Automobile Corporation and the Argentine government, which had a factory in Santa Isabel, Córdoba and a network of smaller factories around the country. In 1967, Renault took control of Industrias Kaiser Argentina by acquiring a majority stake, renaming it IKA Renault SAICF. In 1970, Renault purchased the remaining company's shares, introducing in 1971 one of its most popular cars in the Argentine market, the Renault 12. In 1975, the French automaker renamed its operations again, this time as Renault Argentina SA.

During the next years, Renault launched a series of successful Argentine-built models such as the Renault 18 and the Renault 11, but at the end of the 1980s it was hit by the country's economic crisis. Renault Argentina was manufacturing 70 vehicles per day with an installed capacity up to 400 and it had an aged, overly large workforce. The French parent company decided to divest from its Argentine operations.

When Carlos Saúl Menem assumed the Argentine presidency, the markets were opened and Renault ceased many of its minor operations in Argentina, improving its economic situation. In 1992, the entrepreneur Manuel Antelo agreed the purchase of a majority stake in Renault Argentina. According to some journalists, the terms of this agreement were very advantageous for Antelo. He only had to pay if the company made profits and also received ARS100 million from Renault. Renault Argentina was renamed Compañia Interamericana de Automóviles SA (American Automobile Company) or Ciadea. The actual ownership of it was transferred to a holding called Compagnie Financière pour l'Amérique Latine (Financial Company for Latin America) or Cofal, from which Antelo owned two-thirds and the rest was from Renault of France. The holding also took control of the newly established Brazilian operations. Cofal in turn only held 72.3% of Ciadea. The remaining shares were listed on the Buenos Aires stock exchange.