Press Releases1. March 2023
Mutares has successfully completed the acquisition of a plant of automotive supplier Magna in Bordeaux
- New platform acquisition to strengthen the Automotive & Mobility segment
- Manufacturer with a long tradition in the production of high-quality gearboxes
- Revenues of approx. EUR 200 million
Munich, 1 March 2023 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has successfully completed the acquisition of Magna’s facility in Bordeaux. The facility manufactures and assembles full transmissions for the automotive industry.
The plant in Bordeaux, France, has a long tradition of producing premium transmissions for the automotive industry and brings extensive capabilities and expertise in machining and assembly. It produces full gear sets for hybrid, gasoline and diesel vehicle applications and generated revenues of approximately EUR 200 million in 2022 with around 740 employees. The plant provides significant operational and strategic optimization potential, including synergy effects with the metal activities of Mutares’ Automotive & Mobility segment which includes CIMOS, PrimoTECS Group, KICO and ISH Group.
Following the acquisition of three plants of Magna in Germany in July 2021, operating under the new name LMS, this acquisition underlines Mutares’ competence, trustworthiness, and reliability under the best new owner principle.