TRAVERSE CITY, MI –International Inc. is chugging along nicely in Asia this year, says Magna’s Asia President James Tobin.
“We’re at 5,000 employees (now) in China,” he tells Ward’s. “A new plant came on-stream last year in Shangahi for stampings and they’re up to capacity now.”
Couple that with new business in Japan (support services) and South Korea (a powertrain joint venture), plus a new Asian JV forCosma, Magna’s metal forming/body-in-white subsidiary, and the supplier is doing well in the current economic environment, Tobin says.
Magna currently is focused on exploiting new business opportunities in Asia as global platforms proliferate.
“We’re looking to support our customers in those regions” on their global platform business, Tobin says.