Magna International Acquires Stamping and Sub-Assembly Plant in Alabama

Cosma International, the global automotive metalforming unit of Magna International, has signed an agreement with Ogihara America Corp. to acquire Ogihara's stamping and sub-assembly plant in Birmingham, Ala. Ogihara recorded sales of $140 million in 2007. On completion of the transaction, Cosma will manufacture and supply major exterior and structural welded assemblies to various customers from the acquired facility, including Mercedes-Benz in Tuscaloosa, Ala.

AURORA, Ontario — Cosma International, the global automotive metalforming unit of Magna International, has signed an agreement with Ogihara America Corp. to acquire Ogihara’s stamping and sub-assembly plant in Birmingham, Ala. Ogihara recorded sales of $140 million in 2007.

On completion of the transaction, Cosma will manufacture and supply major exterior and structural welded assemblies to various customers from the acquired facility, including Mercedes-Benz in Tuscaloosa, Ala.

"This facility expands our manufacturing footprint in North America, specifically in the Southeast U.S., where there are tremendous growth opportunities," said Horst Prelog, president of Cosma International. "The addition of this facility is part of our overall strategic expansion which brings us closer to key customer assembly facilities."

The 460,000-square-foot Ogihara facility in Birmingham currently employs more than 280 people. Closing of the transaction is expected to occur in the second quarter of 2008, subject to satisfaction of customary closing conditions and U.S. antitrust approval.

For more information about Cosma International, visit: www.cosma.com.