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Magna to expand

Published by Steve Coleman on August 08, 2011

Magna International is expanding its presence in China, Brazil and India over the next three years.

The company is planning to add 38 new plants to the landscape by the end of 2013 to be closer to where automakers are building their own new production sites.

While none of the new plants will be in Canada, the auto parts giant says it has stabilized its Canadian operations.

Magna's workforce is about 17,900 in Canada spread across 44 plants. Future plans call for Canadian auto parts to be included with components made in other countries. Annual sales for the company have been more than US $24 billion.

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