Canadian Automotive Supplier Plans To Buy Birmingham Plant
Birmingham, AL – A Canadian automotive supplier has signed an agreement to buy the Ogihara America stamping plant in Birmingham that makes parts for Mercedes-Benz and other automakers.
Cosma International, a division of Canada's Magna International, said Tuesday it plans to buy the plant, which employs 280 workers, and to manufacture and supply major welded assemblies to customers including Mercedes in Vance.
A Magna spokeswoman said the company intends to keep many of the current workers, but she declined to speculate on how many the Birmingham plant would employ.
The deal is expected to close in the second quarter if the companies receive the necessary regulatory approvals. The purchase price was not disclosed.
The Birmingham plant recorded sales of $140 million in 2007.
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