Magna Seating Continues Expansion in South America with Acquisition of Pabsa
SAO PAULO, Brazil, Jan. 12 - Magna Seating, an operating unit of Magna International which develops and manufactures complete seating solutions and mechanisms, continues its growth in South America with the acquisition of automotive seat supplier Pabsa S.A. The new entity will operate as Magna Seating Argentina.
Pabsa, previously part of the L'Equipe Monteur Group, is based in Buenos Aires, Argentina, and is a vertically integrated supplier of complete seats, foam products, trim covers and seat structures. In 2010, they recorded sales of approximately $110 million USD.
The acquisition -- which includes two production facilities in Buenos Aires and one in Cordoba, Argentina, and has approximately 960 employees -- increases Magna Seating's global footprint and further positions the company as a leading supplier of automotive seating solutions in South America.
"We continue to make a significant commitment to the South American automotive market and our global OEM customers," said Joe Pittel, President of Magna Seating. "Through recent acquisitions and investment we have strengthened our position to immediately support the global platforms of our customers."
Magna Seating recently announced the acquisition of automotive seating supplier Resil Minas and the establishment of a manufacturing facility in the Sao Paulo area to produce complete seats for General Motors and Volkswagen.
About Magna Seating
Magna Seating (www.magnaseating.com) is an innovative leader in the development and manufacture of high-quality complete seat solutions and seat mechanisms for the global automotive industry. Their capabilities range from consumer and market research, full concept development, design and engineering, testing and validation to world-class manufacturing of seating components and complete seat assemblies.
About Magna International
Magna International (www.magna.com) is the most diversified automotive supplier in the world. We design, develop and manufacture automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America and Africa. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body and structural systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.
Magna has more than 92,000 employees in 248 manufacturing operations and 81 product development, engineering and sales centers in 25 countries.
SOURCE Magna International of America Inc.
CONTACT:
Tracy Fuerst
Director,
Corporate Communications
(248) 729-2731
tracy_fuerst@magna.on.ca
