Magna, Chongqing Xingqiaorui to form joint venture in China   [ China ]

Magna International Inc. and Chongqing Xingqiaorui have agreed to form a strategic joint venture in China. Under the terms of the agreement, Cosma International, Magna's body and chassis operating unit, will hold a 53 percent stake in the JV, while Xingqiaorui will hold the remaining 47 percent. The transaction is expected to close in late 2015 or early 2016. Xingqiaorui, a Tier 1 supplier of a...
<May 04, 2015>