News Release - Magna Celebrates Grand Opening of New Seating Plant in Serbia
- Growing demand is driving need for expanded production capacity
- Facility to produce seating products for European automakers
- Expected to create up to 220 new jobs
Click here for the PDF version of the release
SAILAUF, Germany, October 20, 2021 – Magna is continuing its growth in Eastern Europe through the expansion of its seating production capabilities in Serbia. The company celebrated the grand opening of the new plant in the southern Serbian city of Aleksinac with the President of the Republic of Serbia, Aleksandar Vucic and members of government and other local representatives
The greenfield facility, which covers an area of approx. 8,300 square meters, currently employs roughly 780 people with the expectation to potentially increase the workforce up to approximately 1,000 employees by the end of 2022.
“Making this investment reflects the growth in demand for our seating products and positions us in close proximity to our customer,” said John Wyskiel, President, Magna Seating. “We’d like to thank the Serbian government for their support and collaboration in the planning of this site.”
The new facility is Magna’s second plant in Serbia and 36th overall throughout in Eastern Europe. The new plant will produce seat trim covers and leather kits for a European automaker.
TAGSSeating, Aleksinac, Serbia, greenfield
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations
MEDIA CONTACTTracy Fuerst, Vice President, Corporate Communications & PR
Rej Husetovic, Director Corporate Communications & Media Relations Europe
firstname.lastname@example.org, (+49) 6093 9942-5056
ABOUT MAGNAMagna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 87 product development, engineering and sales centres spanning 28 countries.
For further information about Magna [(NYSE:MGA; TSX:MG)], please visit www.magna.com or follow us on Twitter @MagnaInt.
THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.