Magna International’s Auto Parts Unit to Form Joint Venture in China

Cosma International, an operating unit of Magna International Inc., a global automotive body and chassis system supplier based in Aurora, Ontario, announced that it has established a joint venture in China with Guangzhou Automobile Group (GAC) Component Co. Ltd. The new joint venture, which will be named Changsha Cosma Automotive, will be located in Changsha City in Hunan province. The partners plan to establish a manufacturing facility that will produce major body and chassis components and structural assemblies. The first products to be manufactured at the facility will be for a GAC-Fiat vehicle program.