Canadian automotive components supplier, Magna, announced that the company has signed a deal to buy Olsa S.p.A, an Italian automotive lighting producer for approximately 230 million euros. The acquisition will extend Magna’s capability of producing lighting product from designing to manufacturing.
Based in Turin, Italy, OLSA has been established for more than 70 years with production forces in Italy, Poland, Brazil, China, and Mexico. The company supplies lighting products for automobile manufacturers; their main clients are German companies such as Volkswagen Group, BMW, GM, and Mercedes.
By acquiring Olsa, Magna will have a total of 11 lighting production facilities and two engineering centers. John O’hara, President of Magna Lighting said, “OLSA brings Magna advanced technology that will enhance our portfolio of distinctive, feature-rich lighting products. Lighting represents a growth area for Magna due to increasing levels of electronics integration and a desire for automakers to differentiate their vehicles through styling."

(Image: Magna)