August 5, 2011
Magna Exteriors and Interiors expands in China
AURORA, ON, Aug. 5, 2011 /PRNewswire/ - Magna Exteriors and Interiors, an
operating unit of Magna International Inc., announced today that it has
expanded its footprint in China by forming a joint venture to purchase
an existing injection molding and painting facility located in Wuhu, a
city in the Anhui province of southeastern China.
The three-party joint venture, called MCC Wuhu Exteriors, consists of
Magna Exteriors and Interiors (51%), CAIP (Changshu Automotive Trim
Co., 34%) and Chery Tech (15%).
The 300,000-square-foot manufacturing plant, which recorded revenue of
approximately $43 million in 2010, employs about 600 people and
supplies its primary customer Chery Auto with front and rear fascias.
"Consistent with our strategy to pursue growth in emerging markets, this
opens the door for our exteriors and fascia business in China," said
Bob Brownlee, president of Magna Exteriors and Interiors in North
America and Asia. "Having established a presence in China with our
interior components and systems during the past several years, we now
have a foundation from which we can begin a growth phase for our
exteriors business in the region as well."
About Magna Exteriors and Interiors
Magna Exteriors and Interiors is a full service global supplier of
exterior and interior systems. We design, engineer and manufacture
front and rear end fascia systems; sealing systems; exterior trim;
class A composite panels; top systems; engineered glass; under hood &
underbody components; structural components; sidewall and trim systems;
cockpit systems; cargo management systems; and overhead systems for
automotive, commercial truck, consumer, and industrial markets. We also
manufacture sheet molding compound (SMC) material, EpicBlendSMC(TM), in
About Magna International
Magna International (www.magna.com) is the most diversified automotive supplier in the world. We design,
develop and manufacture automotive systems, assemblies, modules and
components, and engineer and assemble complete vehicles, primarily for
sale to original equipment manufacturers of cars and light trucks in
North America, Europe, Asia, South America and Africa. Our capabilities
include the design, engineering, testing and manufacture of automotive
interior systems; seating systems; closure systems; metal body and
structural systems; vision systems; electronic systems; exterior
systems; powertrain systems; roof systems; hybrid and electric
vehicles/systems as well as complete vehicle engineering and assembly.
Magna has more than 104,000 employees in 269 manufacturing operations
and 84 product development, engineering and sales centers in 26
SOURCE Magna International Inc.