Canadian-based Magna International Inc said on Thursday it will acquire German parts maker BDW Technologies' four aluminum die casting operations in Europe.It gave no price for the transaction but said BDW, a maker of vacuum high-pressure aluminum die casting, expects sales of about 160 million euros ($119 million) this year and includes Volkswagen, Audi and Porsche among its customers.The acquisition will be done through Magna operating unit Cosma International and close in the first quarter of 2012. It will give Magna two die casting operations in Germany, one in Poland and one in Hungary.Magna, the world's third biggest auto parts maker also announced that it had developed a demonstration fleet of nine electric vehicles based on General Motors Co's Chevrolet Equinox crossover.
Magna International Inc. (Magna) is a diversified global automotive supplier. Shares of MGA traded higher by 0.61% or $0.21/share to $34.52. In the past year, the shares have traded as low as $31.16 and as high as $62.20. On average, 1287550 shares of MGA exchange hands on a given day and today's volume is recorded at 288722.
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