Parts supplier Magna International recently announced that Magna Exteriors of the company has formed a joint venture with Chongqing Guangneng Rongneng Auto Parts Company to focus on supplying automotive front-end modules to the Chinese market .
The new joint venture company is called Magna Light Automotive Trim Systems (Hangzhou) Co., Ltd. Magna's exterior and Chongqing Guangneng Rongneng auto parts each hold 50% of the company's shares. The new company has a new factory in Hangzhou and will assemble and supply front-end modules for the Chinese market in the future.
â€œThe Magna exterior recognises the important position of Chongqing Guangneng Rongneng in China's supply base. By combining with our expertise, we will support our customers with a successful teamwork approachâ€ outside Magna. Joe Pittel, Global President of Decorations, Interiors and Seats, said: â€œWith the new strategic partnership with Chongqing Solar Energy, we will continue to expand our business in the Chinese market.â€
The Magna exterior is an operating sub-unit of Magna International. Its business includes the design and production of bumper systems, exteriors, modular systems, Class A body panels, structural parts, and interior body parts.
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Changzhou Hebe Interantional Trade Co., Ltd , http://www.hebe-motion.com