CANADIAN COMPANY “MAGNA MECHATRONICS” DISCUSSES NEW INVESTMENT IN TIDZ

The Prime Minister, Dimitar Kovacevski and the Director of TIDZ Jovan Despotovski held a working meeting with a delegation of the management of the Canadian company “Magna Mechatronics”, led by Michael Cooper, Vice President of the company. The meeting discussed the company’s new investment plans, where they stressed that they are considering several options for opening their new factory in Europe, and North Macedonia is high on their map. At the moment, intensive talks are already underway for investment in one of the technological industrial development zones in the country.
During the talks, the Macedonian side presented the opportunities and advantages for investing in the country, including an individualized approach in terms of state support. It was also pointed out that the priority for this government is sustainable and well-paid places. From the Macedonian side, it was emphasized that the stability of investments in the country translated through NATO membership, as well as the good and predictable business climate in the country are expected to contribute to the final decision, and the company indicated that they will soon complete the procedure for making a final investment decision.
Magna Mechatronics is part of the Magna International Corporation and manufactures integrated systems of mechanical and electronic components. The parent company “Magna International” is a Canadian company that designs, develops and manufactures automotive systems, modules and components that are delivered to all major automakers in the world.
The company has been ranked Fortune Global 500 for 20 years in a row since 2001. Magna spans 5 continents and 28 countries with over 347 manufacturing operations and 84 development, engineering and sales centers with more than 158,000 employees.