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Magna Sells Interiors Business
Magna International Inc. has agreed to sell its vehicle interiors business to Spain's Grupo Antolin for $525 million.
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Magna International Inc. has agreed to sell its vehicle interiors business to Spain's Grupo Antolin for $525 million. The deal, expected to become final in the third quarter, does not include the Canadian company's seating operations.
The sale covers 36 Magna manufacturing facilities and about 12,000 employees in Europe, Asia and North America. Those operations generate about $2.4 billion in annual sales of door panels, cockpit assemblies and other components, according to the company.
Grupo Antolin is a $2.9 billion global supplier of door assemblies, seating, lighting systems and roof liner consoles.
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