The acquisition is expected to close by the end of the first quarter 2019, pending regulatory approval.
VIZA, with current customers including VW, PSA and Renault Nissan, brings seat-structure expertise and a portfolio of products including patented floor-latch systems and foldable seats. VIZA’s 73 years of expertise will help Magna further develop reconfigurable seating solutions in the new mobility landscape.
“We have been strategic and deliberate in growing our seating business, especially with our structural products, which require higher levels of capital investment,” said Mike Bisson, President Magna Seating. “VIZA’s deep expertise and footprint give us added support to grow, especially in Europe, and strengthen our competitive position.”
Once the deal is approved, Magna will add VIZA’s two facilities in Europe (Spain and Czech Republic), as well as one in each of Morocco and Mexico, and will welcome over 1,100 employees.
Magna’s seating business, recognized by automakers and end consumers for its innovation and quality, includes six R&D centers and 50 manufacturing operations around the globe.
Magna acquires VIZA Geca to bolster its seating capabilities
19 December 2018
Delivering future-ready seating solutions that enable added functionality is key as new mobility changes the way consumers use their vehicles. This kind of functionality starts with the seat structure itself. To further enhance Magna’s capabilities in this area, the company signed an agreement to acquire VIZA Geca SL of Spain, which operates four production facilities and had sales of €125 million in 2017.