According to foreign media reports, Magna International has opened a new seat factory, which will employ 300 employees and supply BMW Europe.
The new plant is located in Chomutov, Czech Republic. It covers an area of 20,000 square feet and has an annual capacity of over 360,000 seats. It will provide different configurations of seat systems for several BMW models and is expected to start production before the end of this year. 150 new jobs have been created and it is expected that 150 employees will be added in 2019.
On October 11th, local time, Magna did not disclose the financial terms of the contract with BMW, nor did it disclose the construction cost of the new plant. Mike Bisson, president of Magna Seat, said in a statement, ' Continuing to win customers like the BMW Group is critical to our global growth.'
In Europe, the Magna Seating Group has 16 production sites, of which 5 are in the Czech Republic, 50 in the rest of the world and 6 in R&D centers.
According to the report, in the second quarter of this year, Magna's sales reached US$10.28 billion, an increase of US$1.14 billion from the US$9.14 billion in the same period last year, an increase of 12%. Pre-tax operating income increased by US$75 million from US$744 million in the same period last year. To 819 million US dollars; net income increased by 78 million US dollars to 626 million US dollars; adjusted EBIT increased by 45 million US dollars to 803 million US dollars. Among them, seat business sales in the second quarter of this year increased by 4% to 1.4 billion US dollars.