Magna, Grammer strike two deals

Article Abstract:

Magna International Inc. of Aurora, Ontario, has signed an letter of intent with Grammer AG of Germany to let their new joint venture firm dubbed Gra-Mag Truck Interior LLC of Livonia, MI, become a distributor of a truck manufacturer in the US. Magna is a car seat manufacturer while Grammer is a seat component maker. In addition, Magna International sold its share in seat manufacturer Magna Paulisch GmbH of Germany for around C$10 million to Grammer. Magna Paulisch posts around $22 million in sales per year.

Comment:

Has signed an letter of intent with Magna International Inc. concerning new joint venture firm Gra-Mag Truck Interior LLC

Canada, Asset sales & divestitures, Germany, Joint ventures, Organizational history, Auto Parts ex Rebuilt NEC, All Other Motor Vehicle Parts Manufacturing, Michigan, Automotive parts, Magna International Inc., Article, Magna Paulisch GmbH, Grammer AG, Gra-Mag Truck Interior LLC

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Onex goes big with first plunge in steel

Article Abstract:

Toronto-based Onex Group entered in to steel business with the acquisition of Tube City IMS Corp. Tube City is the largest provider of steel industry services in North America.

Financial Services, Finance and Insurance, DEPOSITORY INSTITUTIONS, Blast furnaces and steel mills, North America, Mergers, acquisitions and divestments, Financial services industry, Company acquisition/merger, Steel industry, Onex Corp. (Toronto, Ontario)

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