The deal to acquire Olsa, which supplies global automakers with advanced exterior lighting products, makes Magna a global lighting supplier
28 Jun 2018 | 4409 Views | By Autocar Professional Bureau
Magna International has diversified into the automotive lighting business. Magna has signed a deal to acquire OLSA (Optical Lighting Systems Automotive), which 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. ...
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Magna International has diversified into the automotive lighting business. Magna has signed a deal to acquire OLSA (Optical Lighting Systems Automotive), which 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. The transaction value on a cash- and debt-free basis is approximately 230 million euros (Rs 1,758 crore).
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 (Rs 1,850 crore), customers include the Volkswagen Group, the BMW Group, Daimler and FCA.
“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.
Magna International is one of the world's largest automotive suppliers with 340 manufacturing operations and 93 product development, engineering and sales centres in 28 countries. Its capabilities include body exteriors and structures, power and vision technologies, seating systems and complete vehicle solutions.