It is reported that Magna Seating, an operating unit of Magna International, is continuing its growth in South America with the acquisition of automotive seat supplier Pabsa SA. The new entity will operate as Magna Seating Argentina.
Previously part of the L'Equipe Monteur Group, Pabsa is a vertically integrated supplier of complete seats, foam products, trim covers and seat structures based in Buenos Aires in Argentina. In 2010, the company recorded sales of approximately USD 110 million.
The acquisition, which includes two production facilities in Buenos Aires and one in Cordoba and has approximately 960 employees, will increase Magna Seating's global footprint and further positions the company as a leading automotive seating solutions provider in South America.
Mr Joe Pittel president of Magna Seating said that "We continue to make a significant commitment to the South American automotive market and our global OEM customers. Through recent acquisitions and investment, we have strengthened our position to immediately support the global platforms of our customers."
Magna Seating also recently announced the acquisition of automotive seating supplier Resil Minas and the establishment of a manufacturing facility in the São Paulo area to produce complete seats for General Motors and Volkswagen.
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