MONTREAL C Canadian auto parts maker Magna International Inc said on Wednesday it’ll open a brand new seat-making facility in China to supply Zhejiang Geely Holding Group Co’s Volvo car group.
The 5,200-square-meter facility in Taizhou, China, is to be performed by mid-2016, Magna said inside a news release published during a Toronto event for investors and analysts. It will produce complete seating systems for a small crossover utility vehicle, Magna said.
“This new facility helps us support a brand new customer and expands our footprint in China, each of which are answer to growing our global seating business,” Mike Bisson, president of Magna Seating, said in the release.
Ontario-based Magna, which earns about half of its revenue from outside The united states, has a customer list which includes Vehicle Co, Volkswagen AG and Ford Motor Co.
? Thomson Reuters 2016
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