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The Canadian manufacturer of automotive systems, modules and components Magna International plans to build a second plant in North Macedonia for 40 million euros. This is what BalkanEngineer.com learned from Capital.bg.
Magna International is one of the largest automotive parts and systems design and manufacturing companies in the world with over 65 years of experience in the industry. Its global network includes 90 centers in 28 countries with over 160,000 employees.
The new facility in North Macedonia will be located in the Stip Technological-Industrial Development Zone and will start test production already this year, with serial production planned from 2024. The investment is expected to initially create 600 new jobs, with the number growing.
The company already has one operating plant in North Macedonia, which is located in Struga. It started operations in October last year and manufactures exterior mirror systems, including actuators and wiring harnesses. The plant is a supplier mainly to European car manufacturers. The facility began operations with 300 employees, with plans to grow to 1,000 by 2024.
North Macedonian industrial zones have finished 2022 with 2,300 new jobs and over 430 million euros of new investments. As of October last year, their exports exceeded 3 billion euros.
Photo source: canva.com