On April 16, 2015, Spain’s Grupo Antolin Group and Canada’s Magna International Inc. signed an agreement to bid $ 525 million for the latter’s automotive interior business. The subject matter of the auto interior business of this transaction includes 36 manufacturing business units, involving a total of 12,000 employees. In 2014, sales in this segment were approximately $ 2.4 billion. Magna’s car seat business is not included in the scope of this transaction.
Comment: Antolin is headquartered in Burgos, Spain, and currently has 14,800 employees. Its business includes car-roof interior systems, doors, seats and lighting equipment, 2013. Annual sales are 2.73 billion euros (about 2.96 billion US dollars). After this acquisition, Antonglin will further approach the goal of becoming the world’s largest automotive interior supplier, while Magna can free up resources to focus on the development of main businesses such as electronics, powertrain and batteries.
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