By Kate Yuan

(JW Insights) Mar 29 -- Paslin Digital Technology (派斯林), a Chinese manufacturing assembly and automation systems provider, has received the formal purchase order worth RMB455.265 million ($66.12 million) from Canada’s Magna, one of the world's largest suppliers in the field of automobile manufacturing, Paslin announced on March 27.

The company’s US unit The Paslin Company signed a letter of intent with Magna, it said on January 10. Magna will purchase an EV parts production line from Paslin, with an amount not exceeding RMB467.34 million ($67.88 million).

Paslin said the order accounts for 32.03% of the company's audited income in the latest year, adding the smooth fulfillment of the order will have a positive impact on the company's future business performance.

Founded in 1993, Paslin Digital Technology used to be called Changchun Jingkai located in Changchun of northeastern China’s Jilin Province, and went listed in September 1999 on the Shanghai Stock Exchange.

It purchased The Paslin Company in September 2021 and adopted its name. Formed in 1937, the Michigan-based firm is a world-leading automated welding system provider.