To further enhance its capabilities in seating solutions for new mobility trends, Canadian Tier 1 automotive supplier Magna signed an agreement to acquire VIZA Geca SL of Spain, which operates four production facilities, including one in Mexico.
The acquisition is expected to close by the end of the first quarter 2019, pending regulatory approval. No financial terms were disclosed.
VIZA Geca develops and manufactures, cross car beams, seat frames – both front and rear –, as well as other metal stamping parts, assemblies and mechanisms for automotive solutions. Innovation in design and functionality constitute a significant part of the core business, which is what caught Magna officials’ attention.
VIZA, with current customers including VW, PSA and Renault Nissan, will add seat-structure expertise and a portfolio of products including patented floor-latch systems and foldable seats to help Magna further develop reconfigurable seating solutions in the new mobility landscape.
The company operates a manufacturing facility in Huejotzingo, Puebla, which supplies components for seat manufacturers in the region.
“Delivering future-ready seating solutions that enable added functionality is key as new mobility changes the way consumers use their vehicles, this kind of functionality starts with the seat structure itself,” said Mike Bisson, President Magna Seating in a statement.
“We have been strategic and deliberate in growing our seating business, especially with our structural products, which require higher levels of capital investment,” Bisson added. “VIZA's deep expertise and footprint give us added support to grow, especially in Europe, and strengthen our competitive position.”