Business
Magna acquires aluminum castings operations
Positions company to delive r expanded range of lightweight structural component s oluti...
About this update from Magna International Inc.
[{"type":"text","content":"\n\n\n\n\n\nPositions company to deliver expanded range of lightweight structural component solutions \n\n\nAURORA, ON, Nov. 17, 2011 /CNW/ - Cosma International, an operating unit\n of Magna International Inc., announced today that it has signed an\n agreement with the shareholders of the BDW technologies group (www.bdw-technologies.com), pursuant to which Cosma will acquire BDW's four operations. BDW is an\n industry leader in vacuum high-pressure aluminum die casting and\n expects full-year 2011 total sales of approximately €160 million.\n\n\nOn completion of the transaction, Cosma will acquire two operations in\n Germany, one in Poland and one in Hungary. BDW's current production\n customers include Volkswagen, Audi, Porsche, Mercedes-Benz, Ferrari, ZF\n and others.\n\n\nThis acquisition expands and complements Cosma's ability to deliver\n lightweight solutions for complex body-in-white structural and chassis\n components in steel, aluminum or aluminum-steel hybrid to customers\n around the world. The combination of Cosma's proven record for body\n structure and chassis engineering with thin-wall aluminum casting\n capabilities further enhances its position in the industry.\n\n\n\"The technologies gained from BDW will complement the low-pressure\n casting capabilities we recently acquired from Grenville Castings in\n Ontario, Canada,\" said Horst Prelog, President of Cosma International.\n \"While Cosma has always maintained broad product and process metal\n forming capabilities, the integration of BDW makes Cosma the right\n choice for OEM's collaborative, lightweight vehicle solutions.\"\n\n\nClosing of the transaction is expected to occur in the first quarter of\n 2012, subject to obtaining all necessary regulatory approvals including\n anti-trust approvals.\n\n\nAbout Cosma International\n\n\nCosma International (www.cosma.com), an operating unit of Magna International Inc., manufactures a\n comprehensive range of metal body systems, components, assemblies and\n modules including complete vehicle frames, chassis systems and\n body-in-white systems using a variety of innovative processes such as\n hydroforming, stamping and roll forming. Cosma has 47 manufacturing\n facilities and 25 product development and engineering centers\n worldwide.\n\n\nAbout Magna International\n\n\nMagna is the most diversified global aut...