News Release - Magna Sees Continued Expansion With New Engineering Center in China
• Center to deliver latest mirror and vision systems technologies to Asian markets
• Expanded footprint further strengthens Magna’s leading position in mirrors
• New facility expected to create up to 100 jobs
Please click HERE for the PDF version of the release.
SHANGHAI, China, September 19, 2017 – In China, where almost 200 million vehicles share the road with pedestrians, bicycles, electric scooters and more, drivers need good visibility. Magna, already the global market leader in automotive mirrors, will help improve that visibility by opening a new engineering center in Shanghai to bring its latest mirror and vision systems to automakers and drivers. Government officials joined Magna executives and employees in a grand opening event held today.
The new engineering center is expected to generate up to 100 new jobs, including a number of highly-skilled engineers. The facility will also feature an innovation showroom where customers will be able to see and interact with Magna’s latest technologies from all over the world.
Magna’s new engineering center in Shanghai. The center will help deliver the latest mirror and vision systems technologies to Asian markets.
“China is a key hub for our engineering and product development within Asia and around the globe,” said John O’Hara, Magna Closures & Mirrors President. “Our new Shanghai engineering center allows us to increase our development activity, providing even more customizable solutions for automakers.”
The company aims to bring newer technologies like its ClearViewTM inside and outside mirrors to China. As a leader in both camera-based advanced driver assistance systems and mirrors, Magna developed ClearView™ to help improve visibility while changing lanes, backing out of a parking space, or driving with a vehicle full of cargo.
Magna has 44 manufacturing plants in China, with six of them dedicated to mirrors production and serving more than 45 customers globally including Volkswagen, Ford Motor Co., General Motors, Nissan and Great Wall.
louis.tonelli@magna.com, 905.726.7035
tracy.fuerst@magna.com, 248.631.5396
Cathy Yu, Director Communications & PR
cathy.yu@magna.com, +8 62161651604
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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.
• Expanded footprint further strengthens Magna’s leading position in mirrors
• New facility expected to create up to 100 jobs
Please click HERE for the PDF version of the release.
SHANGHAI, China, September 19, 2017 – In China, where almost 200 million vehicles share the road with pedestrians, bicycles, electric scooters and more, drivers need good visibility. Magna, already the global market leader in automotive mirrors, will help improve that visibility by opening a new engineering center in Shanghai to bring its latest mirror and vision systems to automakers and drivers. Government officials joined Magna executives and employees in a grand opening event held today.
The new engineering center is expected to generate up to 100 new jobs, including a number of highly-skilled engineers. The facility will also feature an innovation showroom where customers will be able to see and interact with Magna’s latest technologies from all over the world.
Magna’s new engineering center in Shanghai. The center will help deliver the latest mirror and vision systems technologies to Asian markets.
“China is a key hub for our engineering and product development within Asia and around the globe,” said John O’Hara, Magna Closures & Mirrors President. “Our new Shanghai engineering center allows us to increase our development activity, providing even more customizable solutions for automakers.”
The company aims to bring newer technologies like its ClearViewTM inside and outside mirrors to China. As a leader in both camera-based advanced driver assistance systems and mirrors, Magna developed ClearView™ to help improve visibility while changing lanes, backing out of a parking space, or driving with a vehicle full of cargo.
Magna has 44 manufacturing plants in China, with six of them dedicated to mirrors production and serving more than 45 customers globally including Volkswagen, Ford Motor Co., General Motors, Nissan and Great Wall.
TAGS
Engineering center, mirrors innovation, vision systems, ClearViewINVESTOR CONTACT
Louis Tonelli, Vice-President, Investor Relationslouis.tonelli@magna.com, 905.726.7035
MEDIA CONTACTS
Tracy Fuerst, Global Director of Corporate Communications & PRtracy.fuerst@magna.com, 248.631.5396
Cathy Yu, Director Communications & PR
cathy.yu@magna.com, +8 62161651604
ABOUT MAGNA
We are a leading global automotive supplier with 327 manufacturing operations and 100 product development, engineering and sales centres in 29 countries. We have over 161,000 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.# # #
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.