Acquires TK Chassis Operations in Brazil
AURORA, ON, Dec. 6, 2011 /PRNewswire/ - Magna International Inc. announced
today that its Cosma International operating unit has closed a
transaction with ThyssenKrupp Automotive Systems GmbH to acquire
ThyssenKrupp Automotive Systems Industrial do Brasil Ltda. (TKASB).
TKASB produces and assembles chassis structural components and modules
for several Brazilian automotive customers from four plants, and had
sales of approximately $250 million USD for its fiscal year ended
September 30, 2011.
Cosma has acquired TKASB and all of its operations, which consist of
four manufacturing facilities located in Sao Bernardo do Campo,
Ibirité, Camacari and São José dos Pinhais. TKASB employs
approximately 770 employees at the four plants. Current production
customers include Ford, Fiat, Renault-Nissan, Honda and PSA.
The acquisition expands Cosma's global footprint and positions the
company to become a leading metalforming and chassis system supplier
partner to OEMs throughout South America.
"The acquisition represents a significant commitment to the South
American automotive market and our global OEM customers," said Horst
Prelog, president of Cosma International. "Our world-class
manufacturing expertise combined with an expanded footprint in South
America, provides us with the ability to immediately support the local
and global platforms of our OEM customers."
These four new facilities add to Magna's current footprint in South
America, which includes nine manufacturing facilities, two R&D
facilities and approximately 3,650 employees.
About Cosma International
Cosma International (www.cosma.com), an operating unit of Magna International Inc., manufactures a
comprehensive range of metal body systems, components, assemblies and
modules including complete vehicle frames, chassis systems and
body-in-white systems using a variety of innovative processes such as
hydroforming, stamping and roll forming. Cosma has 47 manufacturing
facilities and 25 product development and engineering centers
About Magna International
Magna is the most diversified global automotive supplier. Magna designs,
develops and manufactures technologically advanced automotive systems,
assemblies, modules and components, and engineers and assembles
complete vehicles, primarily for sale to original equipment
manufacturers ("OEMs") of cars and light trucks. Magna's capabilities
include the design, engineering, testing and manufacture of automotive
interior systems; seating systems; closure systems; body and chassis
systems; vision systems; electronic systems; exterior systems;
powertrain systems; roof systems; hybrid and electric vehicles/systems;
as well as complete vehicle engineering and assembly.
Magna has approximately 107,000 employees in 275 manufacturing
operations and 85 product development, engineering and sales centres in
26 countries. More information on Magna can be found at www.magna.com.
THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE "FORWARD-LOOKING
STATEMENTS" UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO,
AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT
IN MAGNA'S REGULATORY FILINGS. PLEASE REFER TO MAGNA'S MOST CURRENT
MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND
FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM
40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA'S SUBSEQUENT REGULATORY
FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK
FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE
INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE
AVAILABLE FOR REVIEW ON MAGNA'S WEBSITE AT WWW.MAGNA.COM.
SOURCE Magna International Inc.
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Wednesday, September 21, 2011
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