Cosma International, an Ontario company that manufactures a range of automotive systems, components, assemblies, and modules, has purchased Grenville Castings in order to expand its portfolio to include structural aluminum castings. Grenville, of Perth, Ont., is a low-pressure casting and permanent mold foundry that produces complex automotive components, including thin-wall and hollow-core castings.
The financial details of the purchase have not been revealed.
According to its announcement, Cosma's acquisition of Grenville Castings is part of a strategy to become a global manufacturer of aluminum structural castings in all major geographic markets. It also supports Cosma's global launch of an automotive chassis program, scheduled to start production in 2014.
"This acquisition further enables Cosma to support our customers with lightweight solutions through the latest technologies and proven manufacturing excellence. Grenville's expertise in the area of structural castings enhances our already diverse range of metalforming solutions," stated the company’s president, Horst Prelog.
Cosma is an operating unit of Magna International Inc., a Tier One automotive supplier. Cosma employs processes like hydroforming, stamping, and roll-forming to produce metal body systems, complete vehicle frames, chassis systems, and body-in-white systems, among other products. It has . has 47 manufacturing plants and 25 product development centers worldwide.