Shropshire auto firm Stadco taken over by Canadian group

Shropshire-based automotive firm Stadco is to be taken over a Canadian company, it was revealed today.

Stadco Telford UK Facility

Magna International, based in Ontario in Canada, has agreed a deal which will see it acquire the company for an undisclosed sum.

Stadco has been one of Shropshire's great success stories in recent years, and saw turnover pass the £200 million mark last year.
It employs 900 people at plants in Telford, Shrewsbury, Llanfyllin and Castle Bromwich, and makes body-in-white pressings – structural parts of car doors – for car companies including Jaguar Land Rover, Ford and General Motors.
The deal is expected to be concluded in the final quarter of the year, with the Canadian company saying the move will expand its geographical footprint.
The deal comes hot on the heels of another transatlantic deal for a well-known Shropshire company, which saw Aga Rangemaster bought out by Illinois-based Middleby Corp.
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Comments for: "Shropshire auto firm Stadco taken over by Canadian group"

Roger

Do we own anything in this country any more?

Tony in BC

Works both ways Roger. Brits invest billions into this country - for example driving up the price of property in their real-estate investments so that local workers cannot afford houses or rents themselves.

WolvesWill

I'm really sad to see this local company pass out of British ownership. Shame the Star doesn't say why it was sold.