It has been confirmed that Stadco Automotive (
www.stadco.co.uk), which has facilities in Shrewsbury, Telford and Castle Bromwich and makes pressed sheet metal parts for car makers such as Jaguar Land Rover, Ford and General Motors, is to be acquired by global automotive supplier Magna International (
www.magna.com).
The deal is expected to be completed before the end of the year, subject to a number of conditions.
Greg MacLeod, chief executive of Stadco, said: “The acquisition by Magna will provide further opportunities for the business and its employees to flourish. It marks the start of an exciting new period in the company’s development.”
Magna International has its headquarters in the USA, with 287 manufacturing operations and 81 product development, engineering and sales centres in 29 countries. It employs about 124,000 people.