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Press release from CNW Group

Magna Expands Footprint in South America

Tuesday, December 06, 2011

Magna Expands Footprint in South America15:56 EST Tuesday, December 06, 2011Acquires TK Chassis Operations in BrazilAURORA, ON, Dec. 6, 2011 /CNW/ - Magna International Inc. announced today that its Cosma International operating unit has closed a transaction with ThyssenKrupp Automotive Systems GmbH to acquire ThyssenKrupp Automotive Systems Industrial do Brasil Ltda. (TKASB).  TKASB produces and assembles chassis structural components and modules for several Brazilian automotive customers from four plants, and had sales of approximately $250 million USD for its fiscal year ended September 30, 2011.Cosma has acquired TKASB and all of its operations, which consist of four manufacturing facilities located in Sao Bernardo do Campo, Ibirité, Camacari and São José dos Pinhais.  TKASB employs approximately 770 employees at the four plants.  Current production customers include Ford, Fiat, Renault-Nissan, Honda and PSA.The acquisition expands Cosma's global footprint and positions the company to become a leading metalforming and chassis system supplier partner to OEMs throughout South America."The acquisition represents a significant commitment to the South American automotive market and our global OEM customers," said Horst Prelog, president of Cosma International. "Our world-class manufacturing expertise combined with an expanded footprint in South America, provides us with the ability to immediately support the local and global platforms of our OEM customers."These four new facilities add to Magna's current footprint in South America, which includes nine manufacturing facilities, two R&D facilities and approximately 3,650 employees.About Cosma InternationalCosma International (www.cosma.com), an operating unit of Magna International Inc., manufactures a comprehensive range of metal body systems, components, assemblies and modules including complete vehicle frames, chassis systems and body-in-white systems using a variety of innovative processes such as hydroforming, stamping and roll forming. Cosma has 47 manufacturing facilities and 25 product development and engineering centers worldwide.About Magna InternationalMagna is the most diversified global automotive supplier. Magna designs, develops and manufactures technologically advanced automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers ("OEMs") of cars and light trucks. Magna's capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems; as well as complete vehicle engineering and assembly.Magna has approximately 107,000 employees in 275 manufacturing operations and 85 product development, engineering and sales centres in 26 countries.  More information on Magna can be found 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. For further information: Tracy Fuerst Director, Corporate Communications (248)-729-2731 tracy.fuerst@magna.com