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Magna buying majority stake in Chinese seat maker HLZX

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Magna said HLZX’s plants offer just-in-time seat assembly and delivery, structures, foam, and trim capabilities “that enable an optimal sourcing solution for automakers versus sourcing from multiple suppliers.” (Greg Layson)
GL
By:
Greg Layson
September 03, 2020 04:15 PM

Magna International on Thursday said it has agreed to acquire majority ownership of Honglizhixin (HLZX), a major seat supplier to Chinese automakers, expanding the Canadian supplier’s seating capabilities across China.

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