Automotive stampings group Stadco acquired in undisclosed deal
SHROPSHIRE-based automotive stampings and pressing firm Stadco has been acquired by leading global automotive supplier Magna International in an undisclosed deal.
The deal includes Stadco operations in both the UK and Germany.
Stadco is a major international supplier of body-in-white (BIW) products and services to a range of automotive OEMs including Jaguar Land Rover, Ford and GM.
The organisation, which employs around 1,400 people, has grown significantly in recent years with investments in new facilities and equipment to support its expansion. In 2011, Stadco purchased an 18-acre site in Telford housing two high-speed large mechanical press lines and 33,000m² of covered factory space.
Stadco has four production facilities in the UK, all involved in the manufacture of both steel and aluminium stampings and complex assemblies. It has been involved in a range of recent high-profile programmes, including the all-aluminium Jaguar F-Type, for which it manufactures the major panels and closure assemblies.
The firm is also a major supplier of complex assemblies to Ford in Germany, and its Indian operation provides product design and prototyping services to the Indian market, with its head office located in Chennai.
The organisation has grown significantly in recent years with major investments in new facilities and equipment. Stadco is the largest independent Tier 1 BIW supplier in the UK and has industry leading expertise in the manufacture of both steel and aluminium stampings and complex assemblies.
Greg MacLeod, Chief Executive Officer, Stadco Automotive said: “The acquisition by Magna International Inc. will provide further opportunities for the business and its employees to flourish and marks the start of an exciting new period in the company’s development.”
The transaction is expected to close in the fourth quarter of 2015 and is subject to a number of customary conditions, including regulatory approvals.
Ontario-based Magna is a leading global automotive supplier with 287 manufacturing operations and 81 product development, engineering and sales centres in 29 countries. It has approximately 124,000 employees.
