Magna International expanding in South America

Magna International has acquired ThyssenKrupp Automotive Systems Industrial do Brasil (TKASB). through its Cosma International operating unit. TKASB produces and assembles chassis structural components and modules for several Brazilian automotive customers from four plants, and had sales of approximately $250 million USD for its fiscal year ended September 30, 2011.

Cosma has acquired TKASB and all of its operations, which consist of four manufacturing facilities in Brazil. TKASB employs approximately 770 employees at the four plants. Current production customers include Ford, Fiat, Renault-Nissan, Honda and PSA.

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.

"The acquisition represents a significant commitment to the South American automotive market and our global OEM customers," said Horst Prelog, president of Cosma International. "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."

These four new facilities add to Magna's current footprint in South America, which includes nine manufacturing facilities, two R&D facilities and approximately 3,650 employees.

Cosma International, an operating unit of Magna International Inc., manufactures metal body systems, components, assemblies and modules including complete vehicle frames, chassis systems and body-in-white systems using a variety of processes such as hydroforming, stamping and roll forming. Cosma has 47 manufacturing facilities and 25 product development and engineering centers worldwide.