MAGNA INTERNATIONAL
Canadian group buys automotive component manufacturers in the UK and Germany
The Canadian group Magna International Inc (36 Apple Creek Boulevard, Markham, Ontario L3R 4Y4, Canada) has significantly expanded its position in the European automtoive components business with the recent acquisition of part of the Automotive Components Division of Marley PLC (HQ: 7 Oakhill Road, Sevenoaks, GB-Kent TN13 1NQ) and all of the automotive components operations of Pebra GmbH Paul Braun (D-73776 Altbach/Necker).
From Marley PLC Magna has purchased two wholly owned businesses, Marley Automotive Components Ltd (Parkwood, Maidstone, GB-Kent ME16 0XT), a manufacturer of interior and exterior trim components and KKF Karl Fels GmbH (D-38644 Goslar) which specialises in precision injection moulded components. The combined sales of these two operations in 1995 were £ 84.7m with operating profits of £ 2.8m. In addition, the transaction includes Marley's 50% interest in Marley Kansei Ltd (Pennywell Industrial Estate, GB-Sunderland SR4 9EW) whose total sales in 1995 were £ 26m. This joint venture was set up in 1992 to supply instrument panels and moulded dashboards for the Nissan plant in Sunderland. Marley took the decision to sell these subsidiaries so it could concentrate on its core business in building materials and home improvement products.
The acquisition of Pebra will give the Magna group a leading supplier of plastic and metallic exterior components and systems. The company employs over 1,000 and has 4 production facilities and a research development centre in Germany. The purchase, which is expected to be finalised by the end of June, will significantly enhance Magna's strategic product capability in Europe, particularly in the manufacture of decorative exterior body systems in which it is an industry leader in North America.
Magna is a highly diversified automtoive components suppliers producing a wide range of interior components, seating systems, body panels, fascias and decorative exterior systems for OEMs in North America, Mexico and Europe. It has over 24,000 employees in 98 manufacturing operations in 10 countries.
From Marley PLC Magna has purchased two wholly owned businesses, Marley Automotive Components Ltd (Parkwood, Maidstone, GB-Kent ME16 0XT), a manufacturer of interior and exterior trim components and KKF Karl Fels GmbH (D-38644 Goslar) which specialises in precision injection moulded components. The combined sales of these two operations in 1995 were £ 84.7m with operating profits of £ 2.8m. In addition, the transaction includes Marley's 50% interest in Marley Kansei Ltd (Pennywell Industrial Estate, GB-Sunderland SR4 9EW) whose total sales in 1995 were £ 26m. This joint venture was set up in 1992 to supply instrument panels and moulded dashboards for the Nissan plant in Sunderland. Marley took the decision to sell these subsidiaries so it could concentrate on its core business in building materials and home improvement products.
The acquisition of Pebra will give the Magna group a leading supplier of plastic and metallic exterior components and systems. The company employs over 1,000 and has 4 production facilities and a research development centre in Germany. The purchase, which is expected to be finalised by the end of June, will significantly enhance Magna's strategic product capability in Europe, particularly in the manufacture of decorative exterior body systems in which it is an industry leader in North America.
Magna is a highly diversified automtoive components suppliers producing a wide range of interior components, seating systems, body panels, fascias and decorative exterior systems for OEMs in North America, Mexico and Europe. It has over 24,000 employees in 98 manufacturing operations in 10 countries.
31.05.1996 Plasteurope.com [20052]
Published on 31.05.1996