Magna to acquire BOCO Group

AURORA, Ont. — Magna International Inc. will increase its capacity to make automotive latches, hinges and other closure components through the purchase of the BOCO Group of Companies. The Ontario auto parts company didn’t disclose the price, but BOCO has annual sales of $148 million and employs 450 people at operations in Germany and China. Magna has 309 manufacturing operations and 99 product development, engineering and sales centres in 29 countries. In total, it employs 152,000 people.