TROY, MI, Sept. 2, 2014 /CNW/ - Magna International Inc. has reached a
production milestone at its electronics facility in Holly, Michigan,
where the 10 millionth automotive rearview camera was recently
With more than 130,000 square feet of engineering and manufacturing
space and approximately 390 employees, Magna Electronics Holly is the
only rearview camera maker in the United States and the North American
market leader in automotive camera manufacturing. Serving many of the
world's leading auto makers, Holly ships its cameras to 47 different
locations in North and South America, Europe and Asia. It began
manufacturing cameras in 2005 and has steadily increased its annual
output as rearview monitors and other camera-based driver assistance
systems have grown in popularity.
The Holly operation also serves as the global incubator for Magna's
camera products and the manufacturing expertise required to make them.
Since establishing its camera-manufacturing template in Holly, Magna
has duplicated the processes and equipment in its facilities in Germany
and China to achieve consistently high quality and the ability to
support customers on a global basis.
"This milestone is a testament to our innovative spirit and commitment
to world-class manufacturing," said Olaf Bongwald, Vice President Magna
Electronics. "As driver assistance technologies continue to expand
globally, Magna looks forward to sustained market leadership and future
Earlier this year, the U.S. National Highway Traffic Safety
Administration ("NHTSA") adopted a rule mandating rear visibility
technology in all vehicles under 10,000 lbs. manufactured on or after
May 1, 2018. Since rearview cameras offer auto makers a cost-effective
and reliable way to comply with the recent NHTSA rule, Magna expects to realize additional opportunities to
further enhance its leadership position in this product area.
Magna's complete portfolio of camera and driver assistance systems
includes rearview, side-view and front-facing cameras that support
systems such as adaptive cruise control, collision mitigation braking,
360° bird's-eye view and automated parking.
"With engineering and manufacturing teams in the U.S., Germany and
China, Magna is uniquely positioned to support our global customers
with our innovative camera technology," said Swamy Kotagiri, Magna's
Chief Technical Officer. "Cameras are a highly flexible sensor to
include in an automobile - once we have one or more cameras in place,
there are many natural applications for driver assistance and safety
that enhance the driving experience."
Magna Electronics Holly was recognized last month by the I-69 Next
Michigan Development Corporation for job creation and the positive
impact the facility has made on mid-Michigan.
About Magna International
We are a leading global automotive supplier with 317 manufacturing
operations and 83 product development, engineering and sales centres in
29 countries. We have over 130,000 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, 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.
Image with caption: "Magna recently manufactured its 10 millionth rearview camera since starting in 2005. Magna's electronics plant in Holly, Mich., is the only rearview camera maker in the United States. (CNW Group/Magna International Inc.)". Image available at: http://photos.newswire.ca/images/download/20140902_C8303_PHOTO_EN_42595.jpg
SOURCE: Magna International Inc.
For further information:
Director, Corporate Communications & Media Relations