Two strikes for Magna this week, what next?
Damon reported the other day that BMW has decided to shift production of the next generation X3 to their Spartanburg, SC plant. While that's good news for the employees in Spartanburg, it's the second big loss for Magna International this week. After losing out to Cerberus in the bidding for Chrysler, they are on the short end of the X3 production deal.
Magna-Steyr's plant in Graz, Austria has been assembling the X3 for BMW since 2003 in a deal that will end when the X3 starts coming off the South Carolina line. The X3 accounted for forty-five percent of the Graz plant's output and Magna is looking for a new customer to take up that capacity starting sometime in 2010.
[Source: TheAutoChannel]
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