Magna interior and exterior decoration Systems Co., Ltd. expanded its business in China again
Aurora, Ontario, Canada, August 8, 2011/AP Asia/-- Magna interior and exterior decoration Systems Co., Ltd., a subordinate operating company of Magna International, announced today that its business in China expanded again and purchased an injection molding and paint factory located in Wuhu City, Anhui Province
after Magna's investment, the shares of this company, named as mcarry Wuhu automotive exterior decoration Co., Ltd., were distributed as follows: Magna interior and exterior decoration system Co., Ltd. accounted for 51%, Changshu automotive trim Co., Ltd. (CAIP strives to achieve 350 Watt hours/thousand 6. software upgrade: after standard update (or users increase the experimental method), 34% and Chery Technology Co., Ltd. 15%
this factory has a production facility of 300000 square meters, achieved a record revenue of US $43 million in 2010, and has 600 workers at the same time. It mainly supplies cars and front and rear bumper systems to Chery Automobile Company
Bob Brownlee, general manager of North America and Asia of Magna interior and exterior decoration systems, said, "this acquisition is in line with our strategy of pursuing growth in emerging markets and opens the door to our exterior decoration and bumper business in China. In the past few years, our interior parts and systems have developed steadily in China, and this acquisition has laid the foundation for the growth of our exterior decoration business in the region."
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