VIENNA - Austrian automobile assembler Magna Steyr is considering a new plant for about 150,000 vehicles a year in either eastern Europe or North America, the group said on Thursday.
The unit of Canada's Magna International said a decision was not likely until late this year or next, and a move would depend on winning a contract from an automaker for vehicle assembly.
"It could be a greenfield project, or we could take over an existing plant ... It could happen in the Nafta (North American Free Trade Agreement) region or in eastern Europe," said Daniel Witzani, a spokesman for the Graz-based Magna Steyr.
In eastern Europe, an initial study had named Hungary, the Czech Republic or possibly Romania as potential sites, he said.
Witzani said it was impossible to put a price on the investment at this point because it would depend on the location and whether a new plant is built or an existing one modified.
A typical plant with this capacity might cost about 400 million euros ($491.8 million), but the concrete project could cost more or less, he said.
It would take around 18 months from a decision to completion of a plant.
Magna Steyr assembles vehicles for Mercedes, Jeep, Chrysler and Saab at its main plant in Graz.
It's parent company is auto parts supplier Magna International.