December 13, 2016 / 12:59 PM / 3 years ago

Auto parts maker Magna considers new plant in Europe

VIENNA (Reuters) - Canadian auto parts maker Magna International may build a new plant in Europe as its Austrian factory runs out of capacity, the head of its European business said.

Magna, which makes parts for most of the world’s auto makers and also assembles vehicles under contract, currently builds the Mercedes G class for Daimler at its Graz plant in eastern Austria and will replace the production of BMW’s Mini Countryman with the BMW 5 series in March.

Jaguar Land Rover’s [TAMOJL.UL] full-electric SUV i-Pace will also be constructed at Magna’s Graz plant from next year.

“Should the Graz plant become overloaded, a new factory nearby might be an option,” Guenther Apfalter told weekly Automobil Produktion in an interview published on Tuesday. One possible location was Slovenia.

Magna was also looking at other potential locations in North America and China, Apfalter said.

A decision will likely be taken in the next few months, Apfalter said.

Reporting by Jan Schwartz, writing by Kirsti Knolle

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