Magna Forms JV with LAN Manufacturing to Assemble Vehicle Seats in Michigan
22 Februar 2022 - 06:40PM
Dow Jones News
By Adriano Marchese
Magna International Inc. said Tuesday that it has formed a joint
venture with Michigan-based LAN Manufacturing to assemble vehicle
seats for Ford Motor Co.
The Canadian mobility technology company for automakers said the
new JV, in which it will have a 49% ownership, will be named LM
Manufacturing and will be responsible for assembling complete seats
for various trucks and SUVs for Ford.
The operation will be conducted out of a leased facility in
Detroit, and Magna added that production is scheduled to begin in
the second quarter of 2023.
Magna said it has received $2 million from the Michigan
Strategic Fund as a grant to the JV.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 22, 2022 12:25 ET (17:25 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Magna (TSX:MG)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Magna (TSX:MG)
Historical Stock Chart
Von Mär 2023 bis Mär 2024