CANADA: Magna's Cosma enters renewable energy market
Magna International's Cosma International unit will strengthen its manufacturing presence in the renewable energy market by opening a manufacturing facility in Phoenix, Arizona.
Cosma is a global metalforming supplier in the automotive industry but has recently expanded into non-automotive markets.
The new facility, to be called Cosma Power Systems, is expected to be ready for production this month. The 166,000 sq ft facility will produce metal structures and roll-formed components and systems for the photovoltaic (PV), concentrated photovoltaic (CPV), and concentrated solar power (CSP) solar markets.
At the start of production, the company expects to create approximately 50-60 full-time new jobs.
Horst Prelog, president of Cosma International, said: "We have manufacturing know-how and programme management expertise that is highly sought by other industries. This new facility reflects our commitment to leverage our capabilities in this industry while at the same time remaining a strong supplier partner to our automotive customers."
Canada-based Cosma has benefited from Arizona's Renewable Energy Tax Incentive Programme to create the new jobs.