Magna International To Acquire OLSA - Quick Facts

(RTTNews) - Magna International Inc. announced the company has signed a deal to acquire OLSA S.p.A. The transaction value on a cash- and debt-free basis is approximately 230 million euros. The deal is expected to be finalized before the end of 2018.

OLSA, with headquarters in Turin, Italy, supplies automakers with lighting products. The company employs approximately 2,500 people and maintains manufacturing operations in Italy, Poland, Brazil, China and Mexico. With 2017 sales of 242 million euros, customers include the Volkswagen Group, the BMW Group, Daimler and FCA.

With the acquisition of OLSA, Magna will have a total of 11 lighting manufacturing facilities and two engineering centres globally. Magna said the acquisition will expand the company's lighting capabilities to enable it to design, engineer and manufacture headlamps, tail lamps and other lighting products in every key region of the world.