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Auto parts company Magna International Inc. has signed a deal to sell its fluid pressure and controls business to Hanon Systems, a South Korea-based company, for roughly $1.23 billion. The business being sold specializes in the design, manufacture and supply of mechanical and electronic pumps, electronic cooling fans and other components. Hanon Systems is a global supplier of thermal and energy management systems. The fluid pressure and controls business had $1.4 billion in sales in 2017. The company says about 4,200 employees across 10 facilities in North America, Europe and Asia will move to Hanon Systems.