Magna International Inc. today announced it has signed an agreement to acquire VIZA Geca SL of Spain, thereby enhancing the former’s capabilities in seating solutions. VIZA Geca, which operates four production facilities and had sales of € 125 mn in 2017, brings additional seating structures expertise to Magna. The acquisition is expected to close by the end of the first quarter of 2019, pending regulatory approval.
Delivering future-ready seating solutions that enable added functionality is key, as new mobility changes the way consumers use their vehicles, said Magna. VIZA Geca has customers including Volkswagen, PSA and Renault Nissan, and brings in seat-structure expertise and a portfolio of products including patented floor-latch systems and foldable seats. The company’s 73 years of expertise is expected to help Magna further develop reconfigurable seating solutions in the new mobility landscape.
Once the deal is approved, Magna will add VIZA Geca’s two facilities in Europe (Spain and Czech Republic), as well as one in each of Morocco and Mexico to its operations. It will also welcome over 1,100 existing employees from VIZA Geca. Magna’s seating business includes six R&D centres and 50 manufacturing operations around the globe.
Mike Bisson, President, Magna Seating, said the company has been strategic and deliberate in growing its seating business, especially with its structural products, which require higher levels of capital investment. VIZA Geca’s deep expertise and footprint give Magna added support to grow, especially in Europe, and strengthen its competitive position, he added.