Magna International has signed an agreement to acquire OLSA S.p.A. to expand the company’s lighting capabilities and enable it to design, engineer and manufacture headlamps, tail lamps and other lighting products in every key region of the world with an investment of approximately €230 million. The deal is expected to be concluded before the end of 2018, after obtaining regulatory approval and conforming to other standard closing conditions.
Important car makers in the world, such as Volkswagen Group (with VW, Audi, Skoda, Porsche brands), BMW, GM and Mercedes are customers of OLSA. OLSA is also supplying its products to Fiat Group, the French producers and some Japanese car makers, such as Suzuki and Toyota. Company’s sales during the year 2017 stood at €242 million.
OLSA, founded in 40’s, headquartered in Rivoli (Turin), Italy, is a global supplier to automakers with lighting products. OLSA has been producing lighting for cars and trucks (rear lamps, dome lamps, number plate lights…) for more than 70 years. The company has its manufacturing facilities in Italy, Poland, Brazil, China, and Mexico. OLSA also has technical and commercial offices in Germany and USA.
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.”
Magna, a mobility technology company and one of the world’s largest automotive suppliers, has 340 manufacturing operations and 93 product development, engineering and sales centres in 28 countries. Company Magna, with the acquisition of OLSA, will have a total of 11 lighting manufacturing facilities and two engineering centers globally.