Written on 27.01.2011 - Industry
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Magna Seating acquires Pabsa

Magna Seating, an operating unit of Magna International which develops and manufactures complete seating solutions and mechanisms, continues its growth in South America with the acquisition of automotive seat supplier Pabsa S.A. 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. In 2010, they recorded sales of approximately USD 110 million.

According to Magna Seating, the acquisition -- which includes two production facilities in Buenos Aires and one in Cordoba, Argentina, and has approximately 960 employees -- increases its global footprint and further positions the company 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 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.