Magna/ Chongquing to set up Chinese facility

US firm Magna International, through its Magna Exteriors operating unit, and Chongquing Guangneng Rongneng Trim have set up a 50/50 joint-venture partnership, called Magna Guangneng Automotive Trim System (Hangzhou), that will supply the growing Chinese automotive market through a new greenfield facility located in Hangzhou, China. The facility will assemble and sequence front-end modules (FEMs).

"Magna Exteriors recognises Chongquing's strong presence in the China supply base, and, combined with our expertise, we anticipate a successful and collaborative team approach to support our customers," said Joe Pittel, Global President Magna Exteriors, Interiors and Seating. "Through this new strategic partnership with Chongquing, and in recognition of the growing China market, we are continuing to expand our presence in the region."

Magna Exteriors is a full-service global supplier of automotive exterior systems that designs, engineers and manufactures bumper fascia systems; exterior trim; modular systems; class A body panels; structural components; and under-the-hood and underbody components for automotive, commercial truck, consumer, and industrial markets.

(IMA)

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