Automakers will soon have a familiar name to source lighting products on a global scale: Magna International. Magna has signed a deal to acquire OLSA S.p.A., which will expand the company's lighting capabilities to enable it to design, engineer and manufacture headlamps, tail lamps and other lighting products in every key region of the world.
Magna acquires OLSA and expands lighting business
The transaction value on a cash- and debt-free basis is approximately €230 million. Pending regulatory approval and other standard closing conditions, the deal is expected to be finalized before the end of 2018.
OLSA, with headquarters in Turin, Italy, supplies automakers with lighting products. The company employs approximately 2,500 people and maintains manufacturing operations in Italy, Poland, Brazil, China and Mexico. With 2017 sales of €242 million, customers include the Volkswagen Group, the BMW Group, Daimler and FCA.
"OLSA brings Magna advanced technology that will enhance our portfolio of distinctive, feature-rich lighting products," said John O'Hara, President of Magna Lighting. "Lighting represents a growth area for Magna due to increasing levels of electronics integration and a desire for automakers to differentiate their vehicles through styling."
With the acquisition of OLSA, Magna will have a total of 11 lighting manufacturing facilities and two engineering centres globally.
Image: OLSA's unique OLED tail lamp on the Audi TT.
Magna is a leading global automotive supplier with 348 manufacturing operations and 91 product development, engineering and sales centres in 28 countries. We have over 172,000 employees focused on delivering superior value to our customers through innovative processes and World Class Manufacturing.