Italian auto components manufacturer Magneti Marelli has agreed to sell its rearview mirrors business to Spanish company Ficosa International for Euros 70 million.
The deal covers the development and…
Italian auto components manufacturer Magneti Marelli has agreed to sell its rearview mirrors business to Spanish company Ficosa International for Euros 70 million. The deal covers the development and production of internal and external mirrors in Italy, France, Spain, Poland, Turkey, Argentina, Brazil and India, parent company Fiat said in a statement. It said the sale would allow Magneti Marelli to focus on higher value business areas and the provision of services. Fiat recently announced a bid to buy up the minority of Magneti Marelli shares it does not yet own.