Chinalco Integrated External Telecommunication (Compilation/Icy) is destined to be a busy week for Magna International, an auto parts manufacturer.
Cosma International, a subsidiary of Magna International, recently announced that it has signed an agreement with BDW Technology Group shareholders to acquire its four aluminum casting businesses in Europe.
The detailed terms of the acquisition have not been disclosed.
BDW Group, headquartered in Germany, is a supplier of vacuum high-pressure aluminum castings. It is expected that BDW's total sales in 2011 will reach 160 million euros.
The acquisition is expected to be completed in the first quarter of 2012, and Magna Group will acquire two businesses in Germany, one in Poland and one in Hungary.
At the same time, Magna also announced that it would develop 9 demonstration electric vehicles based on the Chevrolet Equinox of General Motors.
Magna said in a press release that the demonstration project aims to improve the insight performance of electric vehicles in large intersections.
About Cosma International
Cosma International is involved in metal body systems, parts, assemblies and modules, including vehicle frames, chassis and BIW systems produced by various innovative processes such as hydraulic, stamping and roll forming. There are 47 manufacturing plants and 25 product R&D centers in the world.
