Auto parts firm Magna International signs deal for German company Telemotive AG

, Crisis

Hardware production at Telemotive, a supplier of technological products and for engineering services, in Germany.

TORONTO — Magna International Inc. has signed a deal to buy German company Telemotive AG.

Financial terms of the agreement for the company, which has about 550 employees, were not immediately available Monday.

Telemotive provides automotive electronics engineering services.

Magna says it will be integrated into Magna Steyr, its vehicle engineering and contract manufacturing business.

The deal, which is subject to regulatory approval, is expected to close in the second quarter of this year.

Related

One Comments

  • Thank you a lot for sharing this with all of us you really recognize what you’re speaking approximately!
    Bookmarked. Please also seek advice from my website =).
    We can have a link trade contract between us

Leave a Reply

*

This site uses Akismet to reduce spam. Learn how your comment data is processed.