Magna Invests USD75mn For Third Plant


News: Canadian automotive parts supplier Magna International is extending its powertrain operations in the Mexican city of Ramos Arizpe. The company's Magna Powertrain (MPT) division has broken ground on its new USD75mn plant to manufacture all-wheel-drive systems for Audi. The plant will be MPT's third plant in Ramos Arizpe. According to a company statement, this new facility, which will create 230 new jobs at full capacity, is expected to open in 2016. MPT, which has been operating in Ramos Arizpe since 1999, employs over 1,400 people at its two plants that manufacture all-wheel drive and four-wheel-drive systems for top global automotive companies.

This article is tagged to:
Sector: Autos
Geography: Mexico