Magna Seating, an operating unit of Canadian autoparts maker Magna International, continues its growth in South America with the acquisition of automotive seat supplier Pabsa SA. The new entity will operate as Magna Seating Argentina.
Pabsa, previously part of the L'Equipe Monteur Group, is based in Buenos Aires, Argentina, and is a vertically integrated supplier of complete seats, foam products, trim covers and seat structures with sales in 2010 of approximately US$110 million.
The acquisition includes two production facilities in Buenos Aires and one in Cordoba, Argentina, increasing Magna Seating's global footprint and consolidating its position as a leading supplier of automotive seating solutions in South America.
"We continue to make a significant commitment to the South American automotive market and our global OEM customers," said Joe Pittel, president of Magna Seating. "Through recent acquisitions and investment we have strengthened our position to immediately support the global platforms of our customers."
Magna Seating also recently announced the acquisition of automotive seating supplier Resil Minas and the establishment of a manufacturing facility in the São Paulo area to produce complete seats for General Motors and Volkswagen.