Press Release - Magna Establishes Automatic Share Purchase Plan
Under the Bid, which commenced on
ABOUT MAGNA
We are a leading global automotive supplier with 316 manufacturing operations and 84 product development, engineering and sales centres in 29 countries. Our over 125,000 employees are focused on delivering superior value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include producing body, chassis, interiors, exteriors, seating, powertrain, electronics, mirrors, closures and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. For further information about Magna, visit our website at www.magna.com.
FORWARD-LOOKING STATEMENTS
This press release may contain statements that, to the extent that they
are not recitations of historical fact, constitute "forward-looking
statements" within the meaning of applicable securities legislation,
including, but not limited to, future purchases of our Common Shares
under the Normal Course Issuer Bid, including through the Plan or
pursuant to private agreements under issuer bid exemption orders issued
by a securities regulatory authority. 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. We use words such as
"may", "would", "could", "should" "will", "likely", "expect",
"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 to 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. These risks, assumptions and
uncertainties include, without limitation, the impact of: economic or
political conditions on consumer confidence, consumer demand for
vehicles and vehicle production; fluctuations in relative currency
values; legal claims and/or regulatory actions against us; liquidity
risks as a result of an unanticipated deterioration of economic
conditions; the unpredictability of, and fluctuation in, the trading
price of our Common Shares; changes in laws and governmental
regulations; and other factors set out in our Annual Information Form
filed with securities commissions in
SOURCE
For further information, please contact Vince Galifi, Executive Vice-President and Chief Financial Officer at 905-726-7100 or Louis Tonelli, Vice-President, Investor Relations at 905-726-7035.