The Canadian industry giant will build a new world-class aluminium casting facility in Telford, to support Jaguar Land Rover, the UK’s leading vehicle manufacturer.
The Marches LEP has welcomed the investment, which is expected to create 295 jobs at a 225,000 sq ft site on T54, a development site in Telford.
The investment has been made possible as a result of an historic land deal negotiated as part of the Marches LEP’s Growth Deal with Government.
The LEP’s partner, Telford & Wrekin Council, completed the deal with the Homes & Communities Agency, which will see 8,500 new jobs delivered through investing in bringing sites like T54 to the market, in March.
The new facility at T54 is expected to be approximately 225,000 square feet and will create up to 295 jobs at full capacity.
Magna International said it had worked with UK Trade & Investment and the Automotive Investment Organisation, and received financial support from the UK Government’s Regional Growth Fund, to helped to secure the project. Construction is expected to start in the autumn of 2016.
Graham Wynn OBE, Chairman of the Marches LEP, said the investment was a further vote of confidence for the region’s advanced manufacturing and automotive sector. Earlier this year, Magna International’s subsidiary Cosma International bought Shropshire-based car part manufacturer Stadco, saying it was looking to pursue the company’s growth plans.
"This investment will create 295 jobs in Telford, and countless more in our supply chains across the borough and the wider Marches. Attracting industry giants such as Magna International is key to unlocking the economic potential of our region and we welcome its investment at T54.
This is a deal made possible thanks to the land deal secured as part of the Marches Growth Deal with Government and the hard work of the Invest in Telford team."
John Farrell, President of Cosma International, an operating unit of Magna International, said:
"We are excited to work closely with Jaguar Land Rover in the development of this project which will bring the most advanced structural casting technologies to the UK."
"As lightweighting continues to be a key technology driver, we are uniquely positioned to help automakers achieve optimal weight savings throughout the vehicle architecture."
Once production begins in 2018, the facility will use Magna’s innovative high-pressure vacuum die casting process to produce a number of advanced lightweight aluminum castings- a key building block in the next generation all-aluminum and multi-material vehicle architectures.
By using these types of castings, Magna helps automakers deliver maximum strength and stiffness and minimum weight, ultimately achieving better fuel economy, safety and handling.
Magna, through its Cosma International operating unit, is one of the world’s premier suppliers providing a comprehensive range of body, chassis and engines.