Previous MondayTuesdayWednesdayThursdayFridayNext

____ Thursday, November 26, 2015 ____

Share

____________________
Manufacturing

Magna Forms Seating Joint Venture in China

Shanghai - Magna International Inc. and Chongqing Hongli Zhixin Automotive Parts Manufacture Co., Ltd. have announced the signing of a 50/50 joint-venture agreement to provide complete seating systems and seating components to Changan Ford and other customers in China.

Hongli Zhixin, a leading independent seating supplier in China with capabilities in foam, trim and structures, as well as established OEM customers, brings its manufacturing facility in Harbin and two production programs to the JV. A Hongli Zhixin-Magna headquarters will be located in Chongqing.

This JV is expected to strengthen Magna's position in China by providing additional regional knowledge of customer and market expectations, enhancing the competitiveness of its cost structure through vertical integration and facilitating faster response times.

Mike Bisson, President of Magna Seating said, "Hongli Zhixin, with their strong position in the Chinese seating market, represents a strategic partner for us in China. The combination of our global seating expertise and their knowledge of the Chinese market delivers a unique value proposition that ultimately positions both companies for future growth opportunities."

Ms. Wang Zhonglian, Chairman of Hongli Zhixin said, "Combining Hongli Zhixin's local knowledge with Magna Seating's global network and world-class manufacturing, I am convinced that our joint venture will provide superior values to our customers to support their growth in China."

The Exchange Morning Post is a free business news service. Consider making a voluntary payment, to help us make this business and market news service better. Thanks in advance, your contribution is appreciated.
Content published on this site represents the opinion of the individual/organization and/or source provider of the Content. ExchangeMagazine.com is non-partisan, online journal. Privacy Policy. Copyright of Exchange produced editorial is the copyright of Exchange Business Communications Inc. 2015. Additional editorials, comments and releases are copyright of respective source(s) and/or institutions or organizations.


Exchange Magazine for Business
Subscription options:

Exchange Magazine Paper Version
Exchange Magazine - Digital version


_____________________


_____________________


_____________________


 

Subscription Options