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Magna subsidiary acquires Grenville Castings


Magna International Inc. subsidiary Cosma International has acquired Grenville Castings Ltd., a structural casting supplier of aluminum components for the automotive, heavy truck and recreational markets.

Financial details of the transaction were not disclosed.

Grenville Castings, headquartered in Perth, Ont., is a niche production and development company with a focus on complex structural casting. Its core technology includes thin wall and hollow core low-pressure casting.

Cosma International, an operating unit of Magna, manufactures a comprehensive range of metal body systems, components, assemblies and modules at 47 manufacturing facilities and 25 product development and engineering centres worldwide.

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“With the combination of Cosma’s global footprint and the technical expertise gained from Grenville Castings, the acquisition positions Cosma to become a leading global manufacturer of aluminum structural castings in all major geographic markets, the company said in a release.

It also said the acquisition would support Cosma’s global launch of an automotive chassis program scheduled to start production in 2014.