Hanon Systems completes acquisition of Magna's Fluid Pressure & Control business
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By Jim Gibbins - 1st April 2019
South Korea / Canada – Seoul-based Hanon Systems has completed its acquisition of the Fluid Pressure & Controls business of Canada's Magna International Inc for approximately USD1.2bn.
Magna International's Fluid Pressure & Control business specialises in thermal and energy management solutions designed to improve conventional and electrified powertrain efficiency. It includes a range of mechanical and electronic pumps for automotive thermal and transmissions systems, and brushless direct current motor and electronic cooling fan technologies.
