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Magna to build new $100M parts plant in Mexico

Car parts maker Magna International Inc. will build a new factory in Mexico to produce stamped and welded assemblies for several automakers.


January 27, 2011
by CANADAN PRESS

Check out CMO tomorrow for more details.

AURORA, Ont.: Car parts maker Magna International Inc. will build a new factory in Mexico to produce stamped and welded assemblies for several automakers.

The Canadian auto parts company says it will spend US$100 million to build the facility, with support from the Mexican government.

Magna announced the new plant after discussions between CEO Don Walker and
Mexican President Felipe Calderon at the World Economic Forum in Davos, Switzerland.

It’s slated to open in June 2012 and is expected to create about 700 jobs when it’s in full swing.

The new plant will be operated by Magna’s international Cosma subsidiary.
© The Canadian Press