Magna International Inc. has finalized its acquisition of ixetic Verwaltungs GmbH (ixetic), a manufacturer of automotive vacuum, engine and transmission pumps. The transaction was made through Magna’s Powertrain operating unit.
With the acquisition, Magna Powertrain continues to execute its strategy to solidify and improve its market position in the field of vacuum and transmission oil pumps, and enhances its footprint both in Europe and globally.
“The ixetic acquisition is a significant milestone for Magna Powertrain and strengthens our position as a leading manufacturer of vacuum and oil pumps,” said President, Magna Powertrain, Jake Hirsch. “These additional technologies complement our current capabilities in the area of on-demand pumps.”