Magna Expands Footprint in South America
Acquires TK Chassis Operations in Brazil
AURORA - Magna International Inc. announced yesterday 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.