It’s been a busy week for auto parts maker Magna International. The Aurora, Ont.-based company’s subsidiary Cosma
International has signed an agreement with the shareholders of the BDW Technologies Group to acquire BDW’s four aluminum die casting operations in Europe.
The terms of the acquisition have not been disclosed.
Germany-based BDW is a provider of vacuum high-pressure aluminum die casting and expects full-year 2011 total sales of approximately EUR160m.
The acquisition is expected to be completed by the first quarter of 2012 and will give Magna two die casting operations in Germany, one in Poland and one in Hungary.
Meanwhile, Magna also announced that it will develop a fleet of nine electric demonstration vehicles based on the Chevrolet Equinox with General Motors Corp.
The demonstration project is aimed at gaining critical insight into the performance of electric vehicles in a larger crossover segment, Magna said in a news release.
It will be conducted through Magna’s E-Car division in collaboration with GM’s Canadian Engineering Centre in Oshawa, Ont.
Source : canplastics.com