TUPY

What TUPY does

Tupy S.A. is a Brazilian multinational iron foundry founded in 1938 in Joinville, Santa Catarina, now publicly traded on B3 under ticker TUPY3 and operating 20,000+ employees across Brazil, Mexico, Portugal, and sales offices in the United States, Germany, Italy, and the Netherlands. The company specializes in cast iron structural components - primarily engine blocks, cylinder heads, and engineering parts - for commercial vehicle, agricultural, construction, mining, and power generation OEMs. Its flagship metallurgical capability is large-scale production of Compacted Graphite Iron (CGI), which delivers 75% higher mechanical strength than gray cast iron and is supplied under long-term contracts to customers including Cummins, Caterpillar, Scania, Mercedes-Benz, Ford, Volkswagen, and Volvo.

Beyond structural castings, Tupy operates a precision machining business (240+ centers, 375+ special equipment), a hydraulics segment (malleable iron fittings and FUCO continuous cast iron profiles), and - following the 2022 acquisition of MWM do Brasil - engines and power generation for the aftermarket. The company is investing in adjacent verticals including hydrogen-ready engine components (via partnerships with Westport Fuel Systems and AVL), flexible hydrometallurgical lithium-ion battery recycling (with the University of São Paulo), and biogas/renewable fuel projects. Revenues are generated through direct enterprise B2B sales on multi-year manufacturing contracts with global OEMs, with products exported to approximately 40 countries and quarterly net revenue in 2025 ranging between R$2.16B and R$2.6B.

Name

TUPY

Legal name

Tupy S.A.

Website

https://tupy.com.br

Company type

Public

Founded year

1938

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Industrial Cast Iron Components Manufacturing

NAICS

Iron and Steel Mills and Ferroalloy Manufacturing (33111), Iron and Steel Pipe and Tube Manufacturing from Purchased Steel (33121)

SIC

Iron & Steel Foundries (3320), Steel Pipe & Tubes (3317)

akta.pro primary industry

Electric Arc Furnace (EAF) Steelmaking (Incl. DRI/HBI-Based) (IMAKABAB)

akta.pro secondary industries

Ferrous Scrap Processing & Brokerage (Steel & Cast Iron) (IMAKAMAA), Direct Reduced Iron (DRI) & Hot Briquetted Iron (HBI) Production (IMAKABAC)

Keywords

• Cast iron components
• Engine blocks manufacturing
• Compacted graphite iron
• Hydraulic pipe fittings
• Industrial machining services

Headquarters

HQ city

Joinville

HQ country

Brazil

HQ region

Latin America

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Structural Components Manufacturing: Core business: manufacturing and sale of cast iron structural components including engine blocks, cylinder heads, and engineering parts for capital goods sector. Revenue generated through long-term manufacturing contracts with global OEMs.
2. Machining Services: Fully machined parts including assembly of components, tightness tests, semi-machined parts, prototype machining. Services provided in-house with over 240 machining centers and 375+ special equipment in Brazil and Mexico.
3. Hydraulic Components: Malleable iron pipe fittings and continuous cast iron profiles (FUCO brand) for construction, sanitation, irrigation, oil & gas, and industrial applications. Global market leadership position.
4. MWM Engine Brand (Aftermarket): Engine brand MWM serves the replacement/aftermarket market with engines and components for various applications including agricultural, construction, and power generation equipment.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Tupy is a global iron foundry and manufacturer that produces custom cast iron structural components (engine blocks and cylinder heads) in gray iron and Compacted Graphite Iron (CGI) for commercial vehicles, agricultural, construction, mining, and power generation OEMs. The company also operates precision machining services for cast iron components, manufactures malleable iron hydraulic fittings and continuous cast iron profiles (FUCO brand) for industrial and infrastructure applications, and through its MWM subsidiary supplies engines, generators, and bioplants for power generation and aftermarket replacement markets.

Product overview

Tupy is a Brazilian multinational foundry and manufacturing company specializing in cast iron components. The company operates a platform-based structure comprising three core product lines: Structural Components (engine blocks and cylinder heads in gray iron and compacted graphite iron), Machining services (precision CNC machining with traceability), and Hydraulics (malleable iron fittings and continuous cast iron profiles under the FUCO brand). The company acquired MWM for engines and generators, and runs ShiftT as a startup accelerator. Supporting these products are software tools like TupyCAD for AutoCAD integration, and an Open Innovation Portal for crowdsourcing solutions to technical challenges. Tupy exports to approximately 40 countries with manufacturing facilities in Brazil, Mexico, and Portugal.

Differentiator

Problem solved

Functional benefit

Brands

• MWM: Engine and power generation solutions brand, acquired in 2022, serving the replacement market and original equipment manufacturers
• ShiftT
• FUCO
• TupyBSP
• TupyNPT
• TupyPress
• TupyForged
• TupyGrooved
• TupyValves

Products and services

• Structural Components and Engineering Parts Custom-manufactured cast iron structural components including engine blocks and cylinder heads in gray iron and Compacted Graphite Iron (CGI), serving commercial vehicle, agricultural, construction, and power generation OEMs globally. Products include monoblock engines (4-8 cylinder configurations) and cylinder heads engineered to customer specifications.
• Machining Services Precision machining services for cast iron components including engine blocks and cylinder heads, with 240+ machining centers and 375+ special equipment across Brazil and Mexico. Includes fully machined parts, component assembly, tightness tests, semi-machined parts, prototype machining, and total product traceability.
• Hydraulic Pipe Fittings and Cast Iron Profiles Malleable iron fittings and continuous cast iron bars (FUCO brand) for industrial hydraulic applications, including TupyBSP, TupyNPT, TupyPress, TupyForged, TupyGrooved, and TupyValves connections plus square, round, and rectangular profiles for construction, sanitation, irrigation, oil and gas, and industrial machinery sectors.
• FUCO Continuous Cast Iron Profiles Proprietary continuous cast iron profiles available in gray and nodular iron grades in square, round, and rectangular shapes. Advantages include 65% reduction in machining time versus steel 1020, 25% cost reduction versus aluminum, 10% lower density than steel, better thermal conductivity, and greater vibration damping.
• MWM Engines and Generators Engines and generators brand offering gas-powered engines reducing up to 40% fuel costs versus diesel, marine generators, standby power generators for hospitals and data centers, and bioplants for renewable fuel and clean electricity production. Also serves the aftermarket replacement market for agricultural, construction, and power generation equipment.
• Thread Seal Tape Thread sealing tape for sealing threaded joints in steel, malleable iron, PVC, or CPVC installations for cold/hot water and compressed air applications, available in Extra and Classic variants with sizes from 18mmx10m to 24mmx50m.
• Open Innovation Portal Online platform for crowdsourcing solutions to Tupy's technical challenges in casting efficiency, mechanical finishing, purchasing process flows, zero defect journey, and circular economy, connecting the company with the broader innovation ecosystem.

Quantifiable outcome

• 75% increase in mechanical strength vs gray cast iron
• +6 more outcomes

Named customers19 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Twelve partnerships are on record, tiered major, core and strategic.

• YuchaimajorStrategic or Co-development Partner · 30 September 2025MWM (Tupy subsidiary) signed agreement with Yuchai, a global engine manufacturer, for engine supply partnership.
• University of São Paulo (USP)coreStrategic or Co-development Partner · 1 January 2025Partnership with USP's Department of Chemical Engineering for lithium-ion battery recycling research using flexible hydrometallurgy technique. Project funded by FAPESP, FINEP, and EMBRAPII.
• FAPESP, FINEP, EMBRAPIIcoreStrategic or Co-development Partner · 14 November 2024Research funding partners for battery recycling technology development project at Institute for Technological Research in São Paulo.
• Volkswagen Caminhões e ÔnibusmajorStrategic or Co-development Partner · 14 August 2024Contract for production of cylinder heads for MAN D26 engines for Volkswagen commercial vehicles.
• Seara AlimentosstrategicStrategic or Co-development Partner · 9 August 2024Contract for bioplanta (biogas plant) with Seara Alimentos for renewable fuel production.
• ComgásstrategicStrategic or Co-development Partner · 10 April 2023Partnership to enable transformation of buses to natural gas in Campinas, in collaboration with Tupy and MWM.
• PrimatostrategicStrategic or Co-development Partner · 9 March 2023Contract for production of renewable fuel and clean electricity with Primato cooperative.
• MWM do BrasilcoreOthers · 30 November 2022Acquisition of MWM do Brasil, entering new sectors including engines and power generation for aftermarket.
• Westport Fuel SystemscoreStrategic or Co-development Partner · 7 July 2021Joint partnership to develop pilot of more efficient internal combustion hydrogen engine. Westport provides fuel systems expertise combined with Tupy's casting capabilities.
• AVLcoreStrategic or Co-development Partner · 7 July 2021Joint partnership for hydrogen internal combustion engine development. AVL contributes engineering simulation and development expertise.
• Teksid (Fiat Chrysler Automobiles subsidiary)coreOthers · 1 July 2021Acquisition of cast iron foundry operations from Teksid in Brazil and Portugal, expanding manufacturing capacity and market position.
• ShiftT (Startup Accelerator)strategicStrategic or Co-development PartnerTupy's startup accelerator program that connects entrepreneurs with company resources. Received 51% more inscriptions in 3rd cycle. Promotes collaboration and mutual benefit for Tupy, startups, and ecosystem.

Scale indicators16 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• Linamar Corporation: Canadian diversified manufacturer of automotive and industrial components including precision machining, iron castings, and powertrain assemblies. Overlapping capabilities in machining and iron casting for commercial vehicle, agriculture, and industrial customers similar to Tupy's segments.
• Bharat Forge: One of the largest forging and casting companies globally, supplying automotive, industrial, and aerospace components. Broader incumbent in metal forming with significant cast iron and steel capabilities, overlapping with Tupy's commercial vehicle and industrial OEM customer base.

Direct peers

• Endurance Technologies: Indian automotive component manufacturer specializing in aluminum castings, iron castings, and machined components for two-wheelers, passenger vehicles, and commercial vehicles. Comparable in product mix and end markets, particularly for automotive engine and transmission components.
• Grede Holdings: US-based iron and steel foundry producing castings for automotive, commercial vehicle, and industrial markets. Direct peer in iron casting operations, with similar customer overlap and end-market exposure to commercial vehicles and industrial machinery.
• Nemak: Mexican-based global manufacturer of aluminum and iron engine blocks, cylinder heads, and transmission components for major automotive OEMs. Direct competitor to Tupy in structural cast components, with overlapping customer base (Ford, GM, Cummins) and similar exposure to ICE-to-EV transition.
• SinterCast: Swedish technology company that developed and licenses Compacted Graphite Iron (CGI) production technology. Closest technology peer to Tupy, since Tupy is the world's first large-scale CGI producer and SinterCast licenses the process control IP that enables CGI production globally.
• Waupaca Foundry: One of the largest iron foundries in North America, producing gray, ductile, and CGI iron castings for automotive, commercial vehicle, agriculture, and construction customers. Direct competitor in iron casting components for similar end markets and customer types as Tupy.
• Aisin Takaoka: Japanese iron foundry specializing in cast iron engine components and brake parts, part of the Aisin Group. Direct peer in iron casting for automotive applications, with similar technology focus on CGI and high-strength cast iron for OEMs.
• Shiloh Industries (Coterie): US-based manufacturer specializing in lightweight castings and engineered solutions for automotive and commercial vehicle markets, including CGI and aluminum components. Direct competitor in cast iron and aluminum structural components for automotive OEMs.
• Teksid (Stellantis subsidiary): Italian iron and aluminum castings manufacturer, subsidiary of Stellantis. Tupy acquired Teksid's Brazilian and Portuguese iron casting operations in 2021; remaining Teksid operations remain a direct competitor in cast iron components for the automotive OEM market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/tupy?originalSubdomain=br

Compliance11 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries8 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TUPY