Home / Guides / Magna offered liquid pressure, controls section to S. Korean retailer for $1.23 billion

Magna offered liquid pressure, controls section to S. Korean retailer for $1.23 billion



Comment on this article 

Print this article Print

Reprint Reprints

Send a letter Respond

Email Article

Share on Facebook

Share on LinkedIn

Share on Twitter

Magna International pronounced it skeleton to sell a tellurian liquid vigour and controls section to South Korea’s Hanon Systems for about $1.23 billion.

Hanon pronounced a understanding outlines one of a biggest acquisitions of an abroad retailer by a South Korean company, and aims to boost a product lineup for electric vehicles.

Magna pronounced a tellurian liquid pressures and controls business produces automatic and electronic pumps, electronic cooling fans and other components.  The section generated $1.4 billion in income in 2017. Magna pronounced about 4,200 employees during 10 operations in North America, Europe and Asia will transition to Hanon Systems.

“With this transaction, Magna’s powertrain business will continue to concentration on bringing energy to a wheels as a full-system retailer of delivery and other driveline-related systems, including electrified versions,” Magna pronounced in a statement

The transaction is approaching to tighten during a initial entertain of 2019, a matter said.

Reuters contributed to this report

Contact Automotive News


Comment on this article 

Print this article Print

Reprint Reprints

Send a letter Respond

Email Article

Share on Facebook

Share on LinkedIn

Share on Twitter

Check Also

Has a review on sexism changed? Take the new survey

Last year, we published a plan looking during sexism in a automobile industry, and now …

Leave a Reply

Your email address will not be published. Required fields are marked *