# 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.

- Type: Acquisition
- Announced: 2020-09-03
- Where: China, China
- Status: announced
- Products: seating systems, seat assembly, foam, trim
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Magna International](https://endata.com/companies/2534.md) (acquirer)
- [Honglizhixin](https://endata.com/companies/49699.md) (target)

## Sources

- [magna.com](https://www.magna.com/company/newsroom/releases-archive/release/2020/09/03/news-release---magna-deepens-partnership-with-honglizhixin-to-bolster-seating-capabilities-in-china), 2020-09-03: "Magna has signed an agreement to acquire majority ownership of Honglizhixin (HLZX), a leading seat supplier to Chinese automakers."
- [globenewswire.com](https://www.globenewswire.com/news-release/2020/09/03/2088453/0/en/magna-deepens-partnership-with-honglizhixin-to-bolster-seating-capabilities-in-china.html), 2020-09-03: "Magna has signed an agreement to acquire majority ownership of Honglizhixin (HLZX), a major seat supplier to Chinese automakers."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.