Italy-based lighting manufacturer OSLA makes unique LEDs for some recognizable makes and models including the headlamps of the new Chevy Traverse and the tailights of the Audi TT.
Now OSLA is part of Canada’s automotive manufacturing juggernaut Magna, which will expand Magna’s lighting capabilities to enable it to design, engineer and manufacture headlamps, tail lamps and other lighting products in every key region of the world.
“OLSA brings Magna advanced technology that will enhance our portfolio of distinctive, feature-rich lighting products,” says John O’Hara, President of Magna Lighting. “Lighting represents a growth area for Magna due to increasing levels of electronics integration and a desire for automakers to differentiate their vehicles through styling.”
The transaction value on a cash- and debt-free basis is approximately €230 million. Pending regulatory approval and other standard closing conditions, the deal is expected to be finalized before the end of 2018.
OLSA, with headquarters in Turin, Italy, employs approximately 2,500 people and maintains manufacturing operations in Italy, Poland, Brazil, China and Mexico. With 2017 sales of €242 million, customers include the Volkswagen Group, the BMW Group, Daimler and FCA.
With the acquisition of OLSA, Magna will have a total of 11 lighting manufacturing facilities and two engineering centres globally.