News Release - Magna Electronics Receives Volvo Cars Quality Excellence Award
AURORA, Ontario, January 29, 2014 – Magna International Inc. announced its Magna Electronics manufacturing division in Tiengen, Germany, has received the Volvo Cars Quality Excellence (VQE) Award for achieving excellence in the following areas: capable systems, capable manufacturing process, ongoing performance, launch performance, continuous improvement and customer endorsement.
“We are honored that Volvo Cars recognized the hard work and continuous improvement of our Tiengen team,” said Olaf Bongwald, Vice President, Magna Electronics. “This award reflects our commitment to world class manufacturing and providing our customers with timely and high quality products.”
Volvo Cars is honoring suppliers that helped the Swedish automaker move towards its goal of having zero quality defects. Volvo Cars presented the award to Magna Electronics at a ceremony in Göteborg, Sweden.
Magna Electronics’ Tiengen facility employs approximately 320 people and manufactures an industry-first, 180-degree front/side-view megapixel camera for Volvo Cars as well as engine electronics for other automakers.
About Magna Electronics
Magna Electronics, an operating unit of Magna International, provides innovative electronic systems through manufacturing facilities and engineering divisions located all over the world. With its individual core products the group is focusing on the following product segments: driver assistance and safety: body systems: intelligent power systems: engine electronics and liquid-level sensors: as well as industrial products. With this comprehensive range of electronic controls, actuators and sensors we are able to provide drivers with systems offering enhanced safety, efficiency and convenience.
About Magna International
We are a leading global automotive supplier with 312 manufacturing operations and 87 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 processes 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.
“We are honored that Volvo Cars recognized the hard work and continuous improvement of our Tiengen team,” said Olaf Bongwald, Vice President, Magna Electronics. “This award reflects our commitment to world class manufacturing and providing our customers with timely and high quality products.”
Volvo Cars is honoring suppliers that helped the Swedish automaker move towards its goal of having zero quality defects. Volvo Cars presented the award to Magna Electronics at a ceremony in Göteborg, Sweden.
Magna Electronics’ Tiengen facility employs approximately 320 people and manufactures an industry-first, 180-degree front/side-view megapixel camera for Volvo Cars as well as engine electronics for other automakers.
About Magna Electronics
Magna Electronics, an operating unit of Magna International, provides innovative electronic systems through manufacturing facilities and engineering divisions located all over the world. With its individual core products the group is focusing on the following product segments: driver assistance and safety: body systems: intelligent power systems: engine electronics and liquid-level sensors: as well as industrial products. With this comprehensive range of electronic controls, actuators and sensors we are able to provide drivers with systems offering enhanced safety, efficiency and convenience.
About Magna International
We are a leading global automotive supplier with 312 manufacturing operations and 87 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 processes 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.
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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.