Magna International To Buy Getrag Transmissions

Written by Ignition Staff on .

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Canadian parts-making giant Magna International continued its global growth by announcing its intention to acquire transmission specialist Getrag, along with Getrag’s 13,500 employees, 13 manufacturing facilities and 10 engineering centres spread across Europe, North America and Asia. The roughly 2.45 billion Euro deal for 100 percent of Getrag includes debt takeovers and pension liabilities, and pending regulatory approval, should be finalized by the end of 2015. Getrag is involved in joint ventures with Ford and Chinese auto makers Jiangling and Dongfeng, with Magna highlighting its specialty in dual-clutch transmissions as a growing market and key consideration in the deal.

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