Magna International’s Cosma International operating unit has closed a deal with ThyssenKrupp Automotive Systems to acquire ThyssenKrupp Automotive Systems Industrial do Brasil Ltda. (TKASB) which produces and assembles chassis structural components and modules for several Brazilian automotive customers from four plants, and had sales of approximately US$250m in its fiscal year ended 30 September, 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.
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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, Magna said.
Magna’s current presence in South America includes nine manufacturing facilities, two R&D facilities and approximately 3,650 employees.
