EMCC European Monitoring Centre on Change

Magna Steyr

Company/Organisation:
Magna Steyr

Geographic Location

Country: Austria
Region: Graz; Steiermark; Südösterreich
Location of affected unit(s): Graz

Company

Sector: Manufacturing
Manufacture of transport equipment
29.3 - Manufacture of parts and accessories for motor vehicles
Number Employed: 10000
Group: Magna International

Employment Effects

Announcement Date: 27-10-2004
Type of Restructuring: Business expansion
Employment Effect Start: 01-06-2005
Planned Job Creation: 650

Additional Information

The management of the Austrian Magna Steyr concern, a company specialised in automotive engineering and vehicle assembly headquartered in Graz, at a press conference held on 27 October 2004 announced plans to grow the company’s production relationship with the Chrysler Group by forming a manufacturing agreement for two vehicle types for the European distribution. This is due to increasing demand for these vehicles from the markets. According to the governor of the Land Styria, Waltraud Klasnic, the Chrysler order to Magna Steyr for assembling the vehicles will entail a job creation programme of about 650 employees to be hired in June 2005 onwards.