Austrian News Digest reported that car assembler and parts maker Magna Steyr, a unit of Canadian vehicle parts maker Magna International, will invest some Euro 100 million euro ($US117.1 million) in upgrading its plants in Weiz and Albersdorf, southeastern Austria, by the end of 2004.

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Magna Steyr will create a total of 370 jobs in the plant. The number of employees of the Magna Heavy Stamping plant in Albersdorf will rise to 600 from the current 330. Workers in the Magna Presstec plant in Weiz will increase to 375 from 275. The company is to receive a E2 million euro ($2.3 million) subsidy for the upgrade from the government of the province Styria, where the plants are located.

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