Magna International (MGA +2.4%) strengthens its position in automotive pumps, agreeing to buy a...

|About: Magna International Inc. (MGA)|By:, SA News Editor

Magna International (MGA +2.4%) strengthens its position in automotive pumps, agreeing to buy a German maker of automotive vacuum, engine and transmission pumps for ~$397M and, in a separate purchase, acquiring the 50% stake it doesn't already own in STT Technologies, a supplier of transmission and engine-related oil pumps.