CANADA: Magna unit Cosma acquires aluminium castings operations
Cosma International, an operating unit of Magna International, has signed an agreement with the shareholders of the BDW technologies group under which Cosma will acquire BDW's four operations. BDW is a vacuum high-pressure aluminum die caster and expects full year 2011 sales of approximately EUR160m.
Cosma will acquire two operations in Germany, one in Poland and one in Hungary. BDW's current customers include Volkswagen, Audi, Porsche, Mercedes-Benz, Ferrari and ZF.
"This acquisition expands and complements Cosma's ability to deliver lightweight solutions for complex body-in-white structural and chassis components in steel, aluminium or aluminium-steel hybrid to customers around the world," Magna said. "The combination of Cosma's proven record for body structure and chassis engineering with thin-wall aluminium 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," added 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 OEMs' collaborative, lightweight vehicle solutions."
Closing of the transaction is expected to occur in the first quarter of 2012.