Magna says it has completed the acquisition of the Getrag group of companies.
Getrag is a producer of dual-clutch transmissions, a segment expected to experience high growth globally during the next decade.
“Expanding our business to provide complete powertrain solutions has been a priority for us,” said Magna Powertrain president, Jake Hirsch.
“We believe Getrag is an excellent fit in terms of product, technology, footprint, customers and people and look forward to working together to continue building on their history of innovation.”
Getrag has an 80-year history in transmissions and technology, offering a range of systems including manual, automated-manual, dual-clutch, hybrid and other technologies.
“We welcome Getrag and its approximately 14,000 employees to the Magna family of companies,” said Magna CEO, Don Walker.
“With the completion of this acquisition, we continue to demonstrate our focus on a refined portfolio of strategic automotive product lines.”
