Magna's Cosma unit expands in Europe

Magna International Inc. says it will acquire four European facilities that supply several auto makers, including Volkswagen, in an agreement with shareholders of the BDW technologies group.

The value of the transaction, through Magna's Cosma unit, wasn't disclosed.

"The technologies gained from BDW will complement the low-pressure casting capabilities we recently acquired from Grenville Castings in Ontario, Canada," said Horst Prelog, president of Cosma International.

Two of the BDW operations are in Germany, one is in Poland and the fourth in Hungary.

BDW's current production customers include Volkswagen, Audi, Porsche, Mercedes-Benz, Ferrari, ZF and others.

Magna is Canada's largest auto parts manufacturer and one of the largest in the world. It primarily supplies auto makers in North America and Europe.