Magna is selling the transmission plant

Supplier Magna is selling the transmission plant

2023-03-06 Von Sven Prawitz 1 min Reading Time

The supplier has sold its transmission plant in France to the investment company Mutares. The location is to be restructured by the investor.

Magna has sold its transmission plant in Bordeaux. In the picture: Hybrid transmission for Stellantis.(Image: LipsiART/Magna) — Magna has sold its transmission plant in Bordeaux. In the picture: Hybrid transmission for Stellantis.
(Image: LipsiART/Magna)

As Mutares announces, the investor has acquired Magna's plant in Bordeaux. The site manufactures and assembles complete transmissions for hybrid, gasoline, and diesel vehicles. This will result in 740 employees transferring to the Automotive & Mobility division of the investment company. There are synergies with the companies Cimos, Primotecs Group, Kico, and ISH Group. The turnover of the transmission plant is estimated at around 200 million euros.

The plant offers significant operational and strategic optimization potential, according to a statement from Mutares. The investor from Munich had already acquired three Magna plants in Germany in July 2021. However, these plants produce plastic parts for the exterior. Together with former Mann + Hummel plants, Mutares aims to create a new supplier for plastic parts based in Frankfurt.

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