Magna sells transmission plant

Supplier Magna sells transmission plant

2023-03-06 From Sven Prawitz

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

Magna hat sein Getriebewerk in Bordeaux verkauft. Im Bild: Hybrid-Getriebe für Stellantis.(Bild: LipsiART/Magna) — Magna hat sein Getriebewerk in Bordeaux verkauft. Im Bild: Hybrid-Getriebe für Stellantis.
(Bild: LipsiART/Magna)

Mutares announces that the investor has taken over the Magna plant in Bordeaux. The site manufactures and assembles complete transmissions for hybrid, gasoline, and diesel vehicles. As a result, 740 employees will move to the Automotive & Mobility division of the investment company. There, synergistic effects exist with the companies Cimos, Primotecs Group, Kico, and ISH Group. The transmission plant's revenue is reported to be around 200 million euros.

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

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