|By PR Newswire||
|January 30, 2014 09:42 AM EST||
GRAZ, Austria, Jan. 30, 2014 /PRNewswire/ - Magna International today announced that its Magna Steyr operating unit will continue its collaboration with the BMW Group through a new vehicle manufacturing contract for its facility in Graz, Austria. The new production program would start following the end of production of the current MINI models MINI Countryman and MINI Paceman being assembled by Magna Steyr in Graz. Further information will be communicated at a later date.
"This new contract with the BMW Group exemplifies our customer's confidence in Magna Steyr to deliver world class manufacturing excellence and flexibility," said Günther Apfalter, President Magna Steyr & Magna International Europe. "We are pleased to secure this contract which allows Magna Steyr to maintain its position as a leader in contract vehicle manufacturing."
Magna Steyr has been a strategic vehicle assembly partner of the BMW Group since its first manufacturing contract for the BMW X3 which started in 2003. Currently Magna Steyr is manufacturing for the BMW Group the MINI Paceman and the MINI Countryman, the latter of which celebrated a milestone in 2013 with 250,000 vehicles produced since start of production in 2010.
About Magna Steyr
More than 100 years of experience in automobile construction and its comprehensive range of services have turned Magna Steyr, a subsidiary of Magna International, into the world's leading, brand-independent engineering and manufacturing partner for automobile makers. Our extensive range of services consists of the five areas of Engineering Services, Vehicle Contract Manufacturing, Roof Systems, Fuel Systems and Battery Systems. As a contract manufacturer, we have produced some 2.5 million vehicles in 22 models.
About Magna International
We are a leading global automotive supplier with 316 manufacturing operations and 84 product development, engineering and sales centres in 29 countries. Our over 125,000 employees are focused on delivering superior value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include body, chassis, interiors, exteriors, seating, powertrain, electronics, mirrors, closures and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com
THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE "FORWARD-LOOKING STATEMENTS" UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA'S REGULATORY FILINGS. PLEASE REFER TO MAGNA'S MOST CURRENT MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA'S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA'S WEBSITE AT WWW.MAGNA.COM.
SOURCE Magna International Inc.