Products and solutions, 2011-12-07, 11:02 AM
Automotive Systems Industrial do Brasil sold to Magna International Inc.
On May 13, 2011 ThyssenKrupp AG decided on an integrated strategic development program to move the Group forward competitively and sustainably. It encompasses portfolio optimization, change management and performance enhancement.
In connection with the portfolio optimization, the Group will be divesting businesses for which there are stronger alternative strategic options: For Automotive Systems Industrial do Brasil, ThyssenKrupp has now found a optimal owner in Cosma International, an operating unit of Magna International Inc.. The closing took place on Tuesday, December 06, 2011.
Cosma International is a leading global metalforming supplier and part of Magna International Inc., one of the world’s most diversified automotive parts suppliers.. Magna’s 2010 sales was approximately USD $24 billion. Magna has 275 manufacturing operations and 85 product development, engineering and sales centres in 26 countries and employs around 107,000 people. The acquisition of Automotive Systems Industrial do Brasil further expands Cosma’s market presence in South America.
Automotive Systems Industrial do Brasil is a major manufacturer of chassis components for the Brazilian automotive market. The company, which has locations in Sao Bernardo do Campo, Ibirité, Camacari and Sao José dos Pinhais, generated sales of €194 million in fiscal 2011/2011 and has around 770 employees.