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Press release from PR Newswire

Magna expands powertrain operations in Ramos Arizpe

Tuesday, April 29, 2014

Magna expands powertrain operations in Ramos Arizpe

11:45 EDT Tuesday, April 29, 2014

AURORA, ON, April 29, 2014 /PRNewswire/ - Magna International Inc. announced today that its Magna Powertrain (MPT) operating unit has placed a symbolic first stone at the site of a new manufacturing facility in Ramos Arizpe, Coahuila, Mexico. MPT hosted a groundbreaking ceremony today for customer representatives, employees and government officials to commemorate the start of construction.

(Photo: http://photos.prnewswire.com/prnh/20140429/81594)

To support the addition of new business, the facility will be the third building at MPT's growing operation in Ramos Arizpe and is expected to be approximately 16,000 square meters (172,000 square feet). MPT Ramos will create jobs for an additional 230 people at full capacity and produce all-wheel drive systems for vehicles made by Volkswagen's luxury brand Audi.

Magna's investment to build the facility is approximately $75 million USD. The launch of the plant is scheduled for 2016.

"MPT Ramos has become a global Center of Excellence for Magna Powertrain's AWD and 4WD product lines," said Jake Hirsch, President of Magna Powertrain. "This new facility will allow us to extend our AWD capabilities and further our position as a world leader in this field."

MPT established its presence in Ramos Arizpe in 1999, and today employs more than 1,400 people at two facilities which produce AWD and 4WD systems for leading global automotive companies. More than two million axles and driveline products were produced by MPT Ramos in 2013. In Mexico overall, Magna has more than 22,000 employees throughout its 29 manufacturing operations and one product development, engineering and sales center.

About Magna Powertrain Magna Powertrain, an operating group of Magna International, is a global supplier for the automotive industry with full capabilities in powertrain design, development, testing and manufacturing. Complete system integration sets us apart from our competitors, and our innovations make important contributions to the overall performance of vehicles around the world: they aim to improve fuel economy, make vehicles safer and lighter, ensure a pleasurable driving experience, and provide added value to our customers.

In line with increasing environmental pressure, many of Magna Powertrain's innovations focus on electronically controlled technologies, supporting the quest for improved efficiency and reduced emissions. Manufacturing locations, engineering centers, and sales offices are situated close to our global customer base, stretching throughout all regions of the world.

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.  We have over 125,000 employees focused on delivering superior value to our customers through innovative products and World Class Manufacturing.  Our product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure 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.

Image with caption: " (CNW Group/Magna International Inc.)". Image available at: http://photos.newswire.ca/images/download/20140429_C5614_PHOTO_EN_39751.jpg

For further information:

Tracy Fuerst
Director, Corporate Communications
(248) 631-5396
Tracy.fuerst@magna.com

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