Magna International's Cosma unit building second factory in India

Wed Oct 15, 5:50 PM
The Canadian Press

By The Canadian Press

TORONTO - The Cosma body-and-chassis division of Magna International Inc. (TSX: MG-A.TO) announced Wednesday it is building its second factory in India.

The plant, to be built in Pune, will start operations in 2010 and will supply regional and global customers with stamped and welded assemblies. Additional products and processes are expected to be added in the near future, Magna said.

"The addition of this facility is part of our overall strategic expansion to support global platforms and it brings us closer to customer assembly plants," said Horst Prelog, president of Cosma.

"India is a key growth market in the automotive industry and we look forward to demonstrating our agility, resources and leadership in this region."

Magna, based in Aurora, Ont., employs approximately 82,000 people in 23 countries.