News Release - Magna Celebrates Grand Opening of Two India Facilities
AURORA, Ontario, December 9, 2015 – Magna International Inc. has started production at two new manufacturing facilities in the Sanand region of the state of Gujarat, India. Both plants, which are located within a supplier park adjacent to the Ford Motor Co. assembly plant, celebrated grand openings today to commemorate the launch of operations. Company officials were joined by customers and local dignitaries in a ribbon-cutting ceremony.
“Today represents another exciting step forward in the growth and development of Magna’s business in India,” said Jim Tobin, Chief Marketing Officer and President of Magna Asia. “We continue to expand our footprint -- in sales, engineering, program management and manufacturing -- to align with our customers and the increasing vehicle production forecast for the India automotive industry.”
At one of the new Sanand facilities, Magna assembles and provides just-in-time delivery of complete seat systems for Ford. The 215,000-square-foot plant is expected to employ approximately 200 people at full production to produce approximately 240,000 complete seat systems per year.
At Magna’s second new facility in Sanand, the company manufactures body and chassis systems for Ford. The 356,000-square-foot plant is expected to employ approximately 400 people at full production.
While the new plants reflect business awards for vehicles that are built from global-platform architectures, they also help position Magna for further growth in India as vehicle production expands. Magna’s current presence in India includes approximately 1,600 employees. Including the two new Sanand facilities, Magna has 11 manufacturing locations and three engineering centres.
About Magna International
We are a leading global automotive supplier with 285 manufacturing operations and 83 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 processes, and World Class Manufacturing. Our product capabilities include producing body, chassis, 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.
“Today represents another exciting step forward in the growth and development of Magna’s business in India,” said Jim Tobin, Chief Marketing Officer and President of Magna Asia. “We continue to expand our footprint -- in sales, engineering, program management and manufacturing -- to align with our customers and the increasing vehicle production forecast for the India automotive industry.”
At one of the new Sanand facilities, Magna assembles and provides just-in-time delivery of complete seat systems for Ford. The 215,000-square-foot plant is expected to employ approximately 200 people at full production to produce approximately 240,000 complete seat systems per year.
At Magna’s second new facility in Sanand, the company manufactures body and chassis systems for Ford. The 356,000-square-foot plant is expected to employ approximately 400 people at full production.
While the new plants reflect business awards for vehicles that are built from global-platform architectures, they also help position Magna for further growth in India as vehicle production expands. Magna’s current presence in India includes approximately 1,600 employees. Including the two new Sanand facilities, Magna has 11 manufacturing locations and three engineering centres.
About Magna International
We are a leading global automotive supplier with 285 manufacturing operations and 83 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 processes, and World Class Manufacturing. Our product capabilities include producing body, chassis, 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.