Positions company to deliver expanded range of lightweight structural component solutions
AURORA, ON, Nov. 17, 2011 /CNW/ - Cosma International, an operating unit
of Magna International Inc., announced today that it has signed an
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
industry leader in vacuum high-pressure aluminum die casting and
expects full-year 2011 total sales of approximately €160 million.
On completion of the transaction, Cosma will acquire two operations in
Germany, one in Poland and one in Hungary. BDW's current production
customers include Volkswagen, Audi, Porsche, Mercedes-Benz, Ferrari, ZF
This acquisition expands and complements Cosma's ability to deliver
lightweight solutions for complex body-in-white structural and chassis
components in steel, aluminum or aluminum-steel hybrid to customers
around the world. The combination of Cosma's proven record for body
structure and chassis engineering with thin-wall aluminum casting
capabilities further enhances its position in the industry.
"The technologies gained from BDW will complement the low-pressure
casting capabilities we recently acquired from Grenville Castings in
Ontario, Canada," said Horst Prelog, President of Cosma International.
"While Cosma has always maintained broad product and process metal
forming capabilities, the integration of BDW makes Cosma the right
choice for OEM's collaborative, lightweight vehicle solutions."
Closing of the transaction is expected to occur in the first quarter of
2012, subject to obtaining all necessary regulatory approvals including
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.
For further information:
Director, Corporate Communications