Magna Exteriors and Interiors Forms Joint Venture in China

Magna Exteriors and Interiors, an operating unit of Magna International Inc. of Aurora, Ontario, announced that it has formed a joint venture in China, by which it will purchase an existing injection molding and painting facility in Wuhu city in Anhui province. Magna International designs, develops and manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks. The three-party joint venture, called MCC Wuhu Exteriors, consists of Magna Exteriors and Interiors (51%), Changshu Automotive Trim Co. (34%), and Chery Tech (15%), a sister company to China-based Chery Auto. Changshu Automotive, based in Changshu City in China’s Jiangsu province, manufactures automotive interiors components.