Magna enters joint venture with LAN to assemble seats in Michigan
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The JV will assemble complete seats for Ford, with production expected to start in the second quarter of 2023.
Automotive parts supplier Magna International Inc. has entered into a joint venture with LAN Manufacturing, a minority-owned automotive supplier based in Michigan.
The JV, to be called LM Manufacturing, will assemble complete seats for various trucks and SUVs for Ford Motor Co., operating from a 296,000 square-foot leased facility in Detroit, Mich.
Magna will own a 49 per cent stake.
Production is scheduled to begin in the second quarter of 2023 and is expected to bring-in more than 390 jobs to the city of Detroit. The Michigan Strategic Fund has awarded a US$2 million grant to the JV.
“We are excited about this opportunity with LM Manufacturing as we continue supporting Ford on some of their high-volume vehicle programs,” Magna Seating president John Wyskiel said in a Feb. 22 statement. “We expect the joint venture to complement the seating capabilities and footprint we already have in the state.”
Magna is headquartered in Aurora, Ontario.