Magna subsidiary Cosma International has acquired ThyssenKrupp Automotive Systems Industrial do Brasil(TKASB),a Brazilian vehicle framework manufacturer.
TKASB produces and assembles chassis structural components and modules for several Brazilian automotive customers from four plants,and had sales of$250m for its fiscal year ended 30 September 2011.
The acquired business includes all of TKASB's operations,which consist of four manufacturing facilities located in Sao Bernardo do Campo,Ibirité,Camacari and Sao Josédos Pinhais,where it employs 770 people.
Its current production customers include Ford,Fiat,Renault-Nissan,and Honda.
Cosma International president Horst Prelog said the acquisition represents a significant commitment to the South American automotive market and the company's global OEM customers.
"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,"Prelog said.
