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Canada's Magna Purchases Getrag

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Canada's Magna Purchases Getrag

Post#1 » Fri Jul 31, 2015 3:43 am

Canadian auto parts maker Magna to buy Germany's Getrag for $1.9 bln

TORONTO/FRANKFURT, July 16 (Reuters) - Canadian automotive parts maker Magna International Inc said on Thursday it would buy privately-owned German car parts maker Getrag for 1.75 billion euros ($1.9 billion), in a bid to expand its automotive transmission systems business.

The move is also part of the plan by the world's No.3 autos supplier to win market leadership in certain key vehicle parts. Earlier this year, Magna sold most of its automotive interiors unit to Spain's Grupo Antolin for $525 million.

Read more here:
http://finance.yahoo.com/news/auto-part ... 15301.html

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