Donnelly Mirrors parent company taken over

NAAS, 26 June 2002: by Brian Byrne. The US-based parent company of Donnelly Mirrors in Naas has been acquired by automotive systems developer and manufacturer Magna International Inc of Aurora, Ontario, Canada.

Donnelly Corporation, founded in 1905, has more than 6,000 employees in 14 countries worldwide and is the second-largest global supplier of exterior and interior mirrors to the automotive industry. Its sales in 2001 were worth $850 million.

In the late 1960s, Donnelly established Donnelly Mirrors Limited in Naas. Since then, it has become a truly international company with plants and offices in Naas and Longford in Ireland, in France, Germany, Italy, Portugal, Sweden, Spain, Mexico and Brazil. Donnelly also has a sales and engineering office in Tokyo, four joint ventures in the People's Republic of China, and a joint venture in Malaysia.

Magna has approximately 67,000 employees in 174 manufacturing operations and 43 product development and engineering centres in 19 countries. Magna was founded in 1957 and its first year's sales amounted to $13,000. In 2001 its sales were valued at $11 billion.

Following closing of the transaction in September, Magna intends to combine its mirrors business with Donnelly, thereby creating the leading global mirrors supplier. The combined entity, which will operate under the business name of Magna Donnelly, will have annualized sales of over $1.2 billion.

©2002knn