03:42 PM EST - Magna International : announced that its Magna Seating operating group, and Hollingsworth Logistics, have formed a joint venture to supply Volkswagen Group of America with complete seat systems for the mid-size sedan to be built at Volkswagen's new Chattanooga, Tennessee, assembly facility. The joint-venture company, Chattanooga Seating Systems (CSS), is 51% owned by Hollingsworth Logistics and 49% Magna Seating. Magna International
shares T.MGA are trading up $0.01 at $0.64.
