Magna Seating eyes EUR 5.6mn investment in Serbia.

By bne IntelliNews March 14, 2012
Magna Seating, a unit of Canada-based Magna International, plans to invest EUR 5.6mn in opening a car seat covers production plant in Serbia's northern municipality of Odzaci, TV and radio broadcaster B92 reported, citing a municipality official. Magna has recently sent a letter of intent, asking for a land plot in Odzaci's industrial zone for the construction of a EUR 2.865mn production unit, Danilo Scepanovic, a member of the municipal council, was quoted as saying. Magna plans to build the factory on an area of 3,200 square metres, as well as to build an administrative building on another 400 sq m and to arrange a social area of 600 sq m. The total investment including machinery and other equipment would top EUR 5.64mn, Scepanovic said. He added that the municipality plans to provide the company free of charge with over two hectares of land. The local assembly will adopt a feasibility study on the project next week and once the document is approved, it will be sent to the state government. Scepanovic also said that Magna plans to engage 132 workers in Odzaci this year and gradually raise their number to 444 in 2015. The complete output of the future plant will be exported. Magna has 150 factories in 80 countries around the world, employing some 100,000 people. It makes products for BMW, Mercedes, Volkswagen and Ford, Scepanovic said, adding that if all goes as planned, Magma would also open a plant for car seats manufacturing in Odzaci, creating more jobs than announced.

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