Production at Magna Steyr in Graz to start in 2017
GRAZ, Austria, Sept. 15, 2016 /CNW/ - Magna International Inc.
announced today it will manufacture the new 5 Series sedan for the
BMW Group at its contract vehicle assembly facility in Graz, Austria. The production, which is
expected to begin in 2017, will be split with BMW Group's
manufacturing plant in Dingolfing, Germany.
(PHOTO: http://photos.prnewswire.com/prnh/20160914/408052)
"We are proud to continue our longstanding partnership with the
BMW Group," says Günther Apfalter, President of Magna Europe and Magna Steyr. "The new
collaboration emphasizes our customer's continued trust in our
contract manufacturing capability and our unmatched leadership
position in this area."
"In the last 15 years of our collaboration, Magna has proven to
be a trusted partner with expertise in world-class production
capabilities. Therefore, Magna is exactly the right choice to share
production of our new BMW 5 Series," explains Oliver Zipse, BMW AG Board of Management member
for Production.
The successful strategic partnership between Magna and the BMW
Group began in 2001. Magna started manufacturing the BMW X3 in
2003, followed by the MINI Countryman in 2010 and the MINI Paceman
in 2012. The new BMW 5 Series will succeed the two MINI
vehicles.
With new business awards from BMW and JLR starting production in
2017, and a contract extension on the Mercedes-Benz G-Class,
Magna's Graz facility is expected
to reach approximately 200,000 vehicles per year by
2018.
About Magna
We are a leading global automotive supplier with 309
manufacturing operations and 99 product development, engineering
and sales centres in 29 countries. We have over 152,000 employees
focused on delivering superior value to our customers through
innovative products and processes, and World Class Manufacturing.
We have complete vehicle engineering and contract manufacturing
expertise, as well as product capabilities which include body,
chassis, exterior, seating, powertrain, electronic, active driver
assistance, vision, closure and roof systems. 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.
FORWARD‑LOOKING STATEMENTS
This press release contains statements that constitute
"forward-looking statements" or "forward-looking information"
within the meaning of applicable securities legislation, including,
but not limited to, statements relating to expected timing for
start of production of the BMW 5-series and anticipated total
production volume for all vehicles at Magna Steyr's Graz assembly plant by 2018. The
forward-looking information in this document is presented for the
purpose of providing information about management's current
expectations and plans and such information may not be appropriate
for other purposes. Forward-looking statements may include
financial and other projections, as well as statements regarding
our future plans, objectives or economic performance, or the
assumptions underlying any of the foregoing, and other statements
that are not recitations of historical fact. We use words such as
"expect", "may", "would", "could", "should", "will", "likely",
"anticipate", "believe", "intend", "plan", "forecast", "outlook",
"project", "estimate" and similar expressions suggesting future
outcomes or events to identify forward-looking statements. Any such
forward-looking statements are based on information currently
available to us, and are based on assumptions and analyses made by
us in light of our experience and our perception of historical
trends, current conditions and expected future developments, as
well as other factors we believe are appropriate in the
circumstances. However, whether actual results and developments
will conform with our expectations and predictions is subject to a
number of risks, assumptions and uncertainties, many of which are
beyond our control, and the effects of which can be difficult to
predict, including, without limitation: the potential for a
deterioration of economic conditions or an extended period of
economic uncertainty; declines in consumer confidence and the
impact on production volume levels; fluctuations in relative
currency values; continuing global or regional economic
uncertainty; the potential impact of the United Kingdom's
anticipated exit from the European union; our ability to
successfully launch material new or takeover business;
underperformance of one or more of our applicable operating
divisions; shifts in market share away from our top
customers; shifts in market shares among vehicles or vehicle
segments, or shifts away from vehicles on which we have significant
content; inability to sustain or grow our business; a prolonged
disruption in the supply of components to us from our suppliers;
work stoppages and labour relations disputes; a reduction in
outsourcing by our customers or the loss of a material production
or assembly program; the termination or non-renewal by our
customers of any material production purchase order; restructuring
actions by OEMs, including plant closures; shutdown of our or our
customers' or sub-suppliers' production facilities due to a labour
disruption; risk of production disruptions due to natural disasters
or catastrophic event; the security and reliability of our
information technology systems; and other factors set out in our
Annual Information Form filed with securities commissions
in Canada and our annual report on Form 40-F filed with
the United States Securities and Exchange Commission, and
subsequent filings. In evaluating forward-looking statements, we
caution readers not to place undue reliance on any forward-looking
statements and readers should specifically consider the various
factors which could cause actual events or results to differ
materially from those indicated by such forward-looking statements.
Unless otherwise required by applicable securities laws, we do not
intend, nor do we undertake any obligation, to update or revise any
forward-looking statements to reflect subsequent information,
events, results or circumstances or otherwise.
SOURCE Magna International Inc.