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© Magna Business | July 03, 2018

Magna acquires OLSA to expand lighting business

Magna has signed a deal to acquire OLSA S.p.A. aimed at expanding the company's lighting capabilities
The transaction value on a cash- and debt-free basis is approximately EUR 230 million. Pending regulatory approval and other standard closing conditions, the deal is expected to be finalised before the end of 2018.

OLSA, with headquarters in Turin (Italy) employs approximately 2'500 people and maintains manufacturing operations in Italy, Poland, Brazil, China and Mexico. With 2017 sales of EUR 242 million, customers include the Volkswagen Group, the BMW Group, Daimler and FCA, a Magna press release reads.

"OLSA brings Magna advanced technology that will enhance our portfolio of distinctive, feature-rich lighting products," said John O'Hara, President of Magna Lighting. "Lighting represents a growth area for Magna due to increasing levels of electronics integration and a desire for automakers to differentiate their vehicles through styling."

With the acquisition of OLSA, Magna will have a total of 11 lighting manufacturing facilities and two engineering centres globally.
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November 15 2018 5:25 pm V11.9.0-1