Magna Finalizes Ixetic Acquisition


magna (select to view enlarged photo)

Automotive pump manufacturer improves technology position, global footprint

AURORA, ON--Nov. 30, 2012: Magna International Inc. announced today that its Magna Powertrain operating unit has completed the transaction to acquire ixetic Verwaltungs GmbH ("ixetic"), a manufacturer of automotive vacuum, engine and transmission pumps.

With the acquisition, Magna Powertrain continues to execute its strategy to solidify and improve its market position in the field of vacuum and transmission oil pumps, and enhances its footprint both in Europe and globally. The purchase price payable for 100% of the outstanding shares of ixetic, on a cash- and debt-free basis, was approximately 308 million.

"The ixetic acquisition is a significant milestone for Magna Powertrain and strengthens our position as a leading manufacturer of vacuum and oil pumps," said Jake Hirsch, President, Magna Powertrain. "These additional technologies complement our current capabilities in the area of on-demand pumps."

Headquartered in Bad Homburg, Germany, ixetic recorded 2011 total sales of approximately 300 million. The company holds a strong position with its customer base, particularly European automakers, and has manufacturing and assembly facilities in Germany, Bulgaria and China, as well as representation in Brazil, India, Japan and the United States.

Home | Buyers Guides By Make | New Car Buyers Guide | Used Car Super Search | Total New Car Costs | New Car and Truck Reviews
Automotive News | TACH-TV | Media Library | Discount Auto Parts

Copyright © 1996-2014 The Auto Channel. Contact Information, Credits, and Terms of Use. These following titles and media identification are Trademarks owned by The Auto Channel, LLC and have been in continuous use since 1987 : The Auto Channel, Auto Channel and TACH all have been in continuous use world wide since 1987, in Print, TV, Radio, Home Video, Newsletters, On-line, and other interactive media; all rights are reserved and infringement will be acted upon with force.

Privacy Statement | Size Does Matter | Media Kit | Affiliates

Send your questions, comments, and suggestions to Editor-in-Chief@theautochannel.com.

Submit Company releases or Product News stories to submit@theautochannel.com.
Place copy in body of email, NO attachments please.

To report errors and other problems with this page, please use this form.

Link to this page: http://www.theautochannel.com/