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Press release from CNW Group

Magna Announces New Facility in Arizona for Renewable Energy

Tuesday, December 13, 2011

Magna Announces New Facility in Arizona for Renewable Energy16:06 EST Tuesday, December 13, 2011Positions company for future growth in non-automotive marketsAURORA, ON, Dec. 13, 2011 /CNW/ - Magna International Inc. announced today that its Cosma International operating unit will strengthen its manufacturing presence in the renewable energy market by opening a manufacturing facility in Phoenix, Arizona.  Cosma is a leading global metalforming supplier in the automotive industry, and has recently expanded into non-automotive markets.The new facility, to be called Cosma Power Systems, is expected to be ready for production in December 2011.  This 166,000-square-foot facility will produce metal structures and roll-formed components and systems for the photovoltaic (PV), concentrated photovoltaic (CPV), and concentrated solar power (CSP) solar markets.   At the start of production, the company expects to create approximately 50-60 full-time new jobs."As a world-leading metalforming supplier, Cosma is applying its 50-plus years of expertise to better serve the renewable energy industry," said Horst Prelog, president of Cosma International.  "We have manufacturing know-how and program management expertise that is highly sought by other industries.  This new facility reflects our commitment to leverage our capabilities in this industry while at the same time remaining a strong supplier partner to our automotive customers.""Arizona welcomes Cosma Power Systems," said Arizona Commerce Authority President and CEO Don Cardon. "Part of our state's job-growth strategy is to attract the U.S.'s Canadian neighbors given their close and important ties with Arizona.  Cosma will utilize the state's Renewable Energy Tax Incentive Program to help bring high-quality jobs to our citizens."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