{"id":55943,"date":"2015-07-16T20:27:49","date_gmt":"2015-07-16T12:27:49","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=55943"},"modified":"2015-07-16T23:02:07","modified_gmt":"2015-07-16T15:02:07","slug":"canadian-auto-parts-giant-magna-to-buy-getrag-transmission-group-for-c2-5-billion","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2015\/07\/16\/canadian-auto-parts-giant-magna-to-buy-getrag-transmission-group-for-c2-5-billion\/","title":{"rendered":"Canadian auto parts giant Magna to buy Getrag transmission group for C$2.5 billion"},"content":{"rendered":"<figure id=\"attachment_55944\" aria-describedby=\"caption-attachment-55944\" style=\"width: 605px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/07\/Magna.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-55944\" src=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/07\/Magna.png\" alt=\"(Photo courtesy of Magna)\" width=\"605\" height=\"367\" srcset=\"https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/07\/Magna.png 605w, https:\/\/canadianinquirer.net\/v1\/wp-content\/uploads\/2015\/07\/Magna-300x182.png 300w\" sizes=\"auto, (max-width: 605px) 100vw, 605px\" \/><\/a><figcaption id=\"caption-attachment-55944\" class=\"wp-caption-text\">(Photo courtesy of Magna)<\/figcaption><\/figure>\n<p>AURORA \u2013 Magna International Inc. (TSX:MG) has an agreement to pay about C$2.5 billion to buy the Getrag Group, a German supplier of automotive transmissions for companies such as Ford, BMW, Daimler, Renault, and Volvo.<\/p>\n<p>The Ontario-based auto parts maker says it will pay 1.75 billion euros for Getrag, which has about 13,500 employees and operations in nine countries in Europe, Asia and North America.<\/p>\n<p>Magna says Getrag is a leader in high-growth segments of the transmission industry and has significant joint-venture relationships with Ford as well as two Chinese auto makers that provide significant potential for growth.<\/p>\n<p>\u201cAs part of our ongoing product portfolio review, we have identified the expansion of our powertrain business as a strategic priority. Getrag is an excellent fit with this strategy,\u201d Don Walker, Magna&#8217;s chief executive officer, said Thursday.<\/p>\n<p>\u201cGetrag 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.\u201d<\/p>\n<p>Magna said it expects the deal to close near the end of 2015, subject to necessary approvals and adjustments.<\/p>\n<p>It says that the offer values Getrag at about C$3.45 billion after accounting for debt and pension liabilities that Magna will assume.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AURORA \u2013 Magna International Inc. (TSX:MG) has an agreement to pay about C$2.5 billion to buy the Getrag Group, a &hellip;<\/p>\n","protected":false},"author":33,"featured_media":55944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[35],"class_list":["post-55943","post","type-post","status-publish","format-standard","has-post-thumbnail","category-technology","tag-original","mauthors-the-canadian-press1"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/55943","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=55943"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/55943\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/55944"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=55943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=55943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=55943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}