Decoma shareholders OK Magna unit purchase

Article Abstract:

Decoma International Inc. shareholders agreed to the purchase of parent firm Magna International Inc.'s European exterior auto components unit. The $565-million acquisition will more than double Decoma's revenue to more than $2.5-billion per year, and broaden its customer base.

Europe, Decoma International Inc.

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Magna loses bid for French interiors firm

Article Abstract:

Aurora, Ontario-based Magna International Inc., which has been attempting to acquire France's Sommer Allibert SA, lost to rival Faurecia. Magna International, which manufactures auto parts, will be forced to revamp its interiors business.

France, Plastic Products, Plastics Product Manufacturing, Motor vehicle parts and accessories, Motor Vehicle Parts, Motor Vehicle Parts Manufacturing, Automobile equipment and supplies industry, Automotive parts industry, Plastics industry, Automotive parts, Faurecia, Sommer Allibert S.A.

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Magna calls off subsidiary merger

Article Abstract:

Magna International Inc. has backed out of a controversial merger of two of its subsidiaries, engine parts manufacturer, Tesma International Inc., and vehicle assembly company, Magna Steyr.

Austria, Metal Forgings and Stampings, Metal Forgings & Stampings, Forging and Stamping, Magna Steyr AG und Company KG, Tesma International Inc.

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