Company to add expertise to its body and chassis business with deal
AURORA, Ont.—Magna International Inc. has announced it will acquire Stadco Automotive Ltd., an independent body-in-white supplier based in the United Kingdom, for an undisclosed sum.
“Stadco’s Body-In-White expertise complements our capabilities in the body and chassis market,” John Farrell, president of Cosma International, an operating arm of Magna, said. “In addition, this acquisition expands Cosma’s geographic footprint and strengthens our existing global customer base.”
Magna noted Stadco has “leading expertise” in the automotive industry, supplying steel and aluminum stampings as well as complex vehicle assemblies. Its customers include Jaguar Land Rover, Ford Motor Company and General Motors. It employs approximately 1,400 people at five manufacturing facilities across the UK and Germany.
The transaction is subject to customary conditions and is expected to close in the fourth quarter of 2015.