Magna International has expanded into the lighting business with the Euro 230 million acquisition of OLSA S.p.A. This will expand Magna’s expertise in the design, engineering and manufacture of lighting products like headlamps and tail lamps. The deal has been finalized pending formal approval from regulatory authorities and it is expected that the deal will go through before the end of 2018.
OLSA is based in Turin, Italy and specializes in the production of lighting products for automotive manufacturers. The company has a workforce of 2,500 employees and has manufacturing facilities spread across different parts of the world like Brazil, China, Mexico, Italy and Poland. OLSA’s customers include renowned companies like FCA, the BMW Group and the Volkswagen Group.
Commenting on the deal, John O’Hara, President of Magna Lighting said that as an outcome of the deal, Magna will acquire expertise in lighting technology that will help the company to expand its range of distinctive, feature-rich lighting products. He said that Magna sees lighting as an area with immense scope for growth thanks to increasing levels of electronics integration and the desire of automotive manufacturers to differentiate their models through styling.
With the acquisition of OLSA, Magna will have a total of 11 lighting manufacturing facilities and two engineering centers globally.
Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.
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