TU-TESL

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Recently, Magna announced the acquisition of Czech company wipac (hereinafter referred to as wipac) to expand its automotive lighting business. It is reported that the transaction is under legal process approval and is expected to be completed in the near future. In fact, this is the second auto lighting business that Magna has acquired in recent years. In July 2018, Magna acquired Italy's olsa company for nearly 230 million euros (about 1.78 billion yuan), enabling it to design and produce taillights and other lighting products in major automobile production areas around the world. "Binlimoushan headlights developed by vepac" the acquisition of vepac focuses on the design and development of automotive headlights, mainly serving European and luxury car brands. The company is composed of a team of more than 40 engineers to create new products for many luxury cars, including Aston Martin, Bentley, Rolls Royce, Lamborghini, Bugatti, Daimler, and so on. John O'Hara, President of Magna's electromechanical intelligence, image and lighting business, believes that the addition of wipac will further expand Magna's global lighting products business, especially in the growth of headlamp business in the European market. With the increasing application of electronic products and sensor products, and the trend that vehicles are constantly differentiated through modeling, lighting business will become the strategic growth point of magna. It is reported that the addition of Wipak will expand Magna's lighting business to 11 manufacturing plants and 3 engineering centers around the world. At this point, Magna has the ability to design, develop and manufacture headlamp to taillight products, providing services to key global automotive markets.