Magna to Buy German Closures Company

Magna International Inc. is purchasing the Boco Group of Companies, a Germany-based supplier of automotive closure systems. Terms of the deal, which is expected to close in the third quarter, weren’t disclosed.

Magna says Boco’s technology, footprint and customer base complements its own closure business.

Boco supplies latches, hinges and strikers to Audi, BMW and Daimler. With 450 employees and plants in Wuppertal, Germany, and Tianjin, China, the company has annual sales of more than €100 million.