According to PR News, Magna International has announced that its Magna seating business unit has acquired Germany's Vogelsitze.
Vogelsitze manufactures seats for passenger cars and trains. It has a number of patents on passenger seat technology. Its current major customers include MAN, Mercedes-Benz, Volvo, VDL, and GAZ. Sales in 2011 were approximately 1.9 million euros (243%). Ten thousand U.S. dollars).
Mike Bisson, President of Magna's Seating Business Unit, said: "The acquisition of Vogelsitze will help us expand our product lineup, expand into commercial vehicles and public transportation systems, and further consolidate and expand our position in the German market."
Both parties did not disclose the details of the transaction.
Vogelsitze manufactures seats for passenger cars and trains. It has a number of patents on passenger seat technology. Its current major customers include MAN, Mercedes-Benz, Volvo, VDL, and GAZ. Sales in 2011 were approximately 1.9 million euros (243%). Ten thousand U.S. dollars).
Mike Bisson, President of Magna's Seating Business Unit, said: "The acquisition of Vogelsitze will help us expand our product lineup, expand into commercial vehicles and public transportation systems, and further consolidate and expand our position in the German market."
Both parties did not disclose the details of the transaction.
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