AURORA, Ontario (AP) -- A subsidiary of Magna International Inc. has signed a deal to buy a stamping and sub-assembly plant in Birmingham, Ala., from Ogihara America Corp.
Financial terms of the deal were not released.
Magna subsidiary Cosma International said the plant had sales of $140 million in 2007.
''This facility expands our manufacturing footprint in North America, specifically in the Southeast U.S., where there are tremendous growth opportunities,'' Horst Prelog, president of Cosma International, said in a statement.
The 460,000-square-foot Ogihara facility employs more than 280 people.
