CANADA: Magna to shut two plants
Magna International will shut two auto parts plants in the Toronto area next June, eliminating 850 jobs.
The plants have suffered from reduced orders from GM and Chrysler.
The plants that are part of Magna's Decoma International plastics unit that supply front and rear bumper covers, body side panels and fenders for those two auto companies only will close next June.
"The difficult decision to close the facility came after a careful evaluation of the facility's financial status, future business and open capacity in other facilities," Magna said.