News Release - Magna Expands Seat Facility in Serbia
• 10,000 square-meter expansion
• Approximate $3.5 million investment
• Expected to create an additional 400 jobs
Click here for the PDF version of the release
SAILAUF, Germany, May 30, 2017 – To accommodate new business and expected employee growth in the facility of 30%, Magna has started construction to expand its seat trim facility in Odžaci, Serbia, from 4,300 square meters to 10,000 square meters. A $3.5 million investment, the expansion doubles the amount of floor space available in the facility. Serbian Prime Minister, Aleksandar Vučić, recently joined Magna employees in celebrating the expansion.
“It is exciting to improve upon and expand our trim facility in Odžaci, which we have seen strong growth in terms of business and employment levels,” said Mike Bisson, President of Magna Seating. “The expansion of the facility positions us even further to bring in new business and service our customers throughout Europe.”
Serbian Prime Minister, Aleksandar Vučić tours Magna’s Serbia seating facility
The seat trim facility originally opened in Serbia in 2013 with roughly 400 employees. Today, the facility houses nearly 1,200 employees and is expected to create an additional 400 jobs in the next two years.
Magna’s Serbia facility produces seat trim covers to customers including Ford, Skoda, Audi and Renault.
louis.tonelli@magna.com, 905.726.7035
Rej.husetovic@magna.com, (+49-6093) 9942-5056
# # #
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
• Approximate $3.5 million investment
• Expected to create an additional 400 jobs
Click here for the PDF version of the release
SAILAUF, Germany, May 30, 2017 – To accommodate new business and expected employee growth in the facility of 30%, Magna has started construction to expand its seat trim facility in Odžaci, Serbia, from 4,300 square meters to 10,000 square meters. A $3.5 million investment, the expansion doubles the amount of floor space available in the facility. Serbian Prime Minister, Aleksandar Vučić, recently joined Magna employees in celebrating the expansion.
“It is exciting to improve upon and expand our trim facility in Odžaci, which we have seen strong growth in terms of business and employment levels,” said Mike Bisson, President of Magna Seating. “The expansion of the facility positions us even further to bring in new business and service our customers throughout Europe.”
Serbian Prime Minister, Aleksandar Vučić tours Magna’s Serbia seating facility
The seat trim facility originally opened in Serbia in 2013 with roughly 400 employees. Today, the facility houses nearly 1,200 employees and is expected to create an additional 400 jobs in the next two years.
Magna’s Serbia facility produces seat trim covers to customers including Ford, Skoda, Audi and Renault.
TAGS
Automotive seats, Serbia, expansion, trim facility, trim coversINVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com, 905.726.7035
MEDIA CONTACT
Rej Husetovic, Director Corporate Communications & Media RelationsRej.husetovic@magna.com, (+49-6093) 9942-5056
ABOUT MAGNA
We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure and roof systems. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.# # #
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