Establishing new seating facility
AURORA, ON, March 9, 2016 /CNW/ - Magna International Inc. announced today that it will open a new seating manufacturing facility in Taizhou, China, to supply Geely. Construction is already underway in the Jiju District of Taizhou and is set to be completed by mid-2016. The announcement was made at an event for investors and analysts in downtown Toronto.
The 5,200-square-meter facility will produce complete seating systems for a small crossover utility vehicle, the first automobile to be produced from Volvo's CMA (Compact Modular Architecture) platform. The new facility is expected to create up to 90 new jobs.
"We are excited to bring our latest seating technologies to the China market and build a world-class just-in-time plant to serve our customer," said Jim Chen, Vice President and Managing Director of Magna Seating in Asia.
Taizhou marks the fifth manufacturing facility for Magna Seating and the 33rd overall for Magna in China, the world's largest automotive market.
"We are committed to delivering manufacturing excellence to our customers aligned with their needs and expectations in all regions of the world," said Mike Bisson, President of Magna Seating. "This new facility helps us support a new customer and expands our footprint in China, both of which are key to growing our global seating business."
About Magna International
We are a leading global automotive supplier with 305 manufacturing operations and 93 product development, engineering and sales centres in 29 countries. We have over 139,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. Our product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.
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SOURCE Magna International Inc.
For further information: Tracy Fuerst, Director, Corporate Communications & Media Relations, (248) 631-5396, [email protected]