Magna forms joint venture with Chinese firm Chongquing Trim Co.

Magna International Inc., through its Magna Exteriors operating unit, has struck a 50/50 joint-venture partnership with auto parts maker Chongquing Guangneng Rongneng Trim Co. Ltd.

Named Magna Guangneng Automotive Trim System (Hangzhou) Co., Ltd., the joint venture will begin supplying front-end modules to China’s automotive market through a new, greenfield assembly and sequencing facility located in Hangzhou, China.

“Magna Exteriors recognizes Chongquing’s strong presence in the China supply base, and, combined with our expertise, we anticipate a successful and collaborative team approach to support our customers,” said Joe Pittel, global president of Magna Exteriors, Interiors and Seating.

Magna Exteriors is an operating group of Aurora, Ont.-based auto parts supplier Magna International Inc. Magna Exteriors designs, engineers and manufactures bumper fascia systems; exterior trim; modular systems; class A body panels; structural components and under hood and underbody components for automotive, commercial truck, consumer, and industrial markets