Magna International expanding Newmarket, Ont., plant, creating 75 new jobs
Chief Marketing Officer Jim Tobin speaks during the Magna International annual general meeting in Toronto on Thursday, May 10, 2012. (Aaron Vincent Elkaim / THE CANADIAN PRESS)
AURORA, Ont. -- Magna International Inc. (TSX:MG) said Monday it will create 75 new jobs with a $1.5-million expansion of a plant in Newmarket, Ont.
The company said its Magna Closures unit is expanding its Dortec manufacturing plant to produce electronic control modules for power closure and roof systems.
The plant is also expected to produce a new electronic side-door latch that will be lighter and cost less.
"We expect electronic closure and latching technologies to be a game-changer for the industry over the next five years and they will eventually become the future mainstream design," Magna Closures president Frank Seguin said in a statement.
"With our expansion at Dortec we are well-positioned to capitalize on this as it occurs."