
Magna International buying Spanish automotive seat maker Viza Geca SL
Magna will acquire factories in Spain, the Czech Republic, Morocco and Mexico.
December 18, 2018
by CP STAFF
General
Automotive
Manufacturing
acquisition
auto parts
autos
Canada
Magna International
manufacturing
Spain
AURORA, Ont.—Magna International Inc. has signed a deal to buy Spanish company Viza Geca SL, which specializes in automotive seating.
Financial terms of the deal were not immediately available.
The Canadian auto parts company says Viza adds expertise and a portfolio of products including patented floor-latch systems and foldable seats.
Under the agreement, Magna will acquire factories in Spain, the Czech Republic, Morocco and Mexico.
The company will also add more than 1,100 employees.
The deal is expected to close in the first quarter of next year, pending regulatory approval.
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