Magna enters joint venture with LAN to assemble seats in Michigan
Canadian Plastics
Automotive Canadian PlasticsThe 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.
