Canada-based car part maker Magna announced on August 18 it has started the construction of a production facility in North Macedonia as part of plans to expand its presence worldwide.
North Macedonia's government announced the arrival of Magna at the end of last year, when the company confirmed that it registered a company in the country
“At Magna, we continue moving forward and staying focused on better serving our customers around the world. We are excited to announce the ground breaking of our first-ever facility in North Macedonia,” Magna said in a Facebook post.
The factory will be located at the free industrial zone in the western city of Struga. The 17,000 square metre facility will manufacture outside mirrors and actuators.
Magna, which is the largest car parts producer in North America, manufactures car parts for General Motors, Ford Motor, FCA, BMW, Mercedes, Volkswagen and Tesla Motors.
Magna group has factories in 28 countries around the world and employs more than 170,000 people.
Related Articles
Orban’s new illiberal axis
Amid the furore over Hungarian Prime Minister Viktor Orban’s visit to Tbilisi immediately after the allegedly stolen October 26 general election, a visit by the country’s President Tamas ... more
Green loans in North Macedonia's banking sector up 14.9% y/y in 2Q24
The growth of green loans in North Macedonia’s commercial banks continued in the second quarter of 2024, with an annual increase of 14.9% or by MKD2.6bn (€42.3mn), the central bank said on August ... more
North Macedonia’s Komercijalna Banka launches takeover bid for Stopanska Banka Bitola
North Macedonia's largest bank, Komercijalna banka, announced on August 26 that it has published the takeover bid for local Stopanska banka Bitola. The offered price is set at MKD3,200 (€52) per ... more
Most Read
-
Indonesia expands military role in government, protesters clash with police in Jakarta
27 days ago
-
Serbian biotech Dren Bio sold to Sanofi for $1.9bn
27 days ago
-
Putin tells Russia's oligarchs that the return of Western business will not be easy or cheap
29 days ago
-
US sets six conditions for Iran talks in Trump letter to Supreme Leader
26 days ago
-
Serbian police reportedly use sonic cannon against protesters
1 month ago