Jaroslaw Adamowski 
EUROPEAN PLASTICS NEWS
Published: November 10, 2014 2:07 pm ET
Updated: November 10, 2014 2:11 pm ET

Magna International Inc. is aiming to set up a new production facility in Malacky, in Slovakia’s western part. The factory will make various plastic interior car components, the country’s state-run Slovak Investment and Trade Development Agency (SARIO) said in a statement.

Under the plan, the Aurora, Ontario-headquartered manufacturer will invest about 8.5 million euros in constructing its new plant. The project is expected to create some 160 jobs in Malacky, according to data from the agency.

On a related note, South Korea’s Hyunnam SK, a subsidiary of Youngsan Glonet, has launched works to build a new production facility in Krásno nad Kysucou, in north-western Slovakia, the statement said. The project is estimated to be worth 12 million euros, and it will create about 750 new jobs. The Slovak factory is to produce a wide range of automotive parts with the use of plastics. The company’s product range includes wiper blades, hoses, plugs and lamps.

Magna owns three manufacturing and assembly facilities in Slovakia, which are operated by a total of 1,100 employees, according to figures from the company. With Eastern Europe and Russia as key growth regions, we have more than 159 facilities and over 46,500 employees throughout Europe.