Magna has announced plans to fully acquire Getrag for approximately €1.75 billion and the deal is expected to be finalized before the year's end.

Magna has announced plans to fully acquire Getrag for approximately €1.75 billion and the deal is expected to be finalized before the year's end.

Getrag is without any doubt one of the biggest manufactures of gearboxes in the entire world and their consolidated sales last year stood at €1.7 billion, not including the €1.6 billion in sales generated in its non-consolidated joint ventures. They have a total of 13,500 employees working in 13 manufacturing and 10 engineering centers in nine countries across Europe, Asia and North America.

Speaking about this major transaction, Magna's CEO Don Walker declared "Getrag is a technology leader in a product area that we believe is well-positioned to benefit from industry trends that are driving increased vehicle fuel-efficiency and reduced emissions." He believes Getrag's joint ventures in China are also very important taking into account it's the biggest car market in the world and also the fastest growing market for dual-clutch gearboxes which are Getrag's specialty.

Be part of something big

Magna acquires Getrag gearbox manufacturer for a massive €1.75 billion