Automotive supplier Magna announced on October 31 it is investing $30mn in building and installing a new automated paint line in Slovakia.
Slovakia is an attractive market for suppliers in the automotive sector as it is the world’s largest auto producer per capita, hosting car assembly plants run by Germany's Volkswagen, South Korea's Kia Motors and France's PSA Peugeot Citroen. A Jaguar Land Rover plant should become operational by the end of 2018.
Magna said it has relocated to a larger facility thanks to business growth at its mirror manufacturing facility in Nove mesto nad Vahom.
The new investment is expected to create 150 new jobs. The new facility, with an area of 27,820 square metres, is approximately twice the size of the previous location. The move is complete and Magna is serving customers from the new location, with the paint line expected to be operational in early 2019, the automotive supplier said.
Magna's Slovakia mirrors plant, known locally as Slovteca, currently employs 630 people. Products made at the facility include exterior mirrors, prismatic and electrochromic interior mirrors, turn signals and puddle lights. Slovteca supplies approximately 20 different customers and ships to more than 80 locations worldwide.
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