Magna to acquire majority ownership of Honglizhixin in China

Magna International signed an agreement to acquire majority ownership of Honglizhixin (HLZX), a Chinese seat supplier, expanding its seating footprint from two to 12 manufacturing plants in China.

“Magna has signed an agreement to acquire majority ownership of Honglizhixin (HLZX), a leading seat supplier to Chinese automakers.”magna.com

• 2 sources
• magna.comNews Release - Magna Deepens Partnership With Honglizhixin to Bolster Seating Capabilities in ChinaSep 3, 2020
• globenewswire.comMagna Deepens Partnership With Honglizhixin to BolsterMagna International Inc.Sep 3, 2020

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