April 22, 2008 -- Cosma International, an operating unit of Magna International Inc. and a leading global automotive metalforming supplier, announced today that it has signed an agreement with Ogihara America Corporation to acquire Ogihara's stamping and sub-assembly plant in Birmingham, Alabama, which recorded sales of $140 million in 2007.
Cosma will manufacture and supply major exterior and structural welded assemblies to various customers from the acquired facility, including Mercedes-Benz, in Tuscaloosa, Alabama. The 460,000-square-foot Ogihara facility in Birmingham currently employs more than 280 people. Closing of the transaction is expected to occur in the second quarter of 2008, subject to satisfaction of customary closing conditions and U.S. antitrust approval.
Abstracted from PR Newswire
