OBERWALTERSDORF, AUSTRIA (Jan. 6, 12 p.m. ET) — Magna International Inc. said 6 Jan that its Magna Seating unit has bought the assets and business of Vogelsitze GmbH, based in Karlsruhe-Stupferich, Germany.
Vogelsitze specializes in the development and production of seats for the bus and light train industries. Sales for 2011 are expected to be about 19 million euros ($24.3 million).
Magna said the acquisition “expands Magna Seating's global footprint, strengthens its position in the German market and enhances its product portfolio.”
Vogelsitze operates from a leased facility in Karlsruhe-Stupferich. Current customers include MAN, Mercedes-Benz, Volvo, Bombardier, VDL and GAZ, Magna said. In addition, Vogelsitze has licensed a number of its patents to other bus-seat manufacturers worldwide, the statement added.
“This acquisition provides us an opportunity to grow our business in the public/commercial transportation area,” said Mike Bisson, president of Magna Seating, in the company announcement. “Our world-class manufacturing expertise combined with an expanded footprint in Germany provides us with the ability to immediately support customers in this market.”
Magna did not reveal financial details of the transaction.