Business · Companies · 2 hrs ago
Japan's Morita to buy Magirus fire vehicle business for €65 million
Japan's Morita Holdings will buy Magirus's fire vehicle business from German investment group Mutares for €65 million.
Magirus has made fire engines since 1864 and is known for its fire trucks and aerial ladders.
More than 1,650 employees at four European sites are affected, in Ulm, Brescia, Chambéry and Premstätten.
Morita says the deal will help it expand its business in Europe; the unit has about €780 million in orders and Mutares expects 2026 sales of around €400 million.
Magirus's defense business is not included and will remain with Mutares, operating independently under a new brand after the sale.
Mutares bought Magirus from the Iveco Group in January 2025 and says it has since reorganized management, cut costs and advanced product development.
The sale transfers the fire vehicle business to a Japanese owner, while the defense unit stays with Mutares.
Morita Holdings Corporation will buy Magirus’s fire vehicle business from Mutares for €65 million.
The sale affects more than 1,650 employees at sites in Ulm, Brescia, Chambéry and Premstätten.
Morita plans to expand its European business through the acquisition.
The fire vehicle business has orders worth about €780 million and Mutares expects it to generate about €400 million in revenue in 2026.
Magirus’s defense business is excluded from the sale and will remain with Mutares.
- Who
- Japan’s Morita Holdings Corporation is buying the business from Munich-based investment group Mutares.
- What
- Morita will acquire Magirus’s fire vehicle business for €65 million. The defense business is not included.
- When
- The sale was announced on 14 November 2026. The sources do not state when it will be completed.
- Where
- The affected sites are in Ulm, Brescia, Chambéry and Premstätten.
- Why
- Morita wants to expand its European business.
This story does not have two clearly opposing sides.
Mutares took over Magirus from the Iveco Group.
Mutares took over Austrian vehicle maker Achleitner Fahrzeugbau to strengthen its defense vehicle business.
Mutares announced the €65 million sale of Magirus’s fire vehicle business to Morita.
- Sale price
- €65 million
- Buyer
- Morita Holdings Corporation
- Affected employees
- More than 1,650
- Affected sites
- Ulm, Brescia, Chambéry and Premstätten
- Orders on the books
- About €780 million
- Expected 2026 revenue
- About €400 million
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