COSMA INTERNATIONAL FORMS JOINT VENTURE IN CHINA WITH GACC

Changsha Cosma Automotive to supply major body and chassis components and structural assemblies

AURORA, ON, May 10 /CNW/ - Cosma International, an operating unit of Magna International Inc. and a leading global automotive body and chassis system supplier, announced today that it has established a joint venture in China with Guangzhou Automobile Group Component Co., Ltd.

The new joint venture, which will be named Changsha Cosma Automotive, will be located in Changsha City, Hunan Province, China. The JV partners plan to establish a manufacturing facility there that will employ 500 to 600 people at full capacity and will produce major body and chassis components and structural assemblies.

Construction of the facility, which will be one of the largest body stamping and assembly plants in the area, will begin in 2011 with start of production targeted for 2012. The first products to be manufactured at the facility will be for a GAC-Fiat vehicle program.

"We recognize GACC's strong presence in the China supply base, and, combined with Cosma's global experience, we anticipate a successful and collaborative team approach to support our customers," said Horst Prelog, President of Cosma International. "Through our strategic partnership with GACC, and in recognition of the growing China market, Cosma continues to expand its presence in the region."

About Cosma International
Cosma International, an operating unit of Magna International, manufactures a comprehensive range of metal body systems, components, assemblies and modules including complete vehicle frames, chassis systems and body-in-white systems using a variety of innovative processes including hydroforming, stamping and roll forming. Serving customers in the automotive and other industries such as alternative energy, Cosma has 52 manufacturing facilities and 25 product development and engineering centers worldwide.

About Magna International
Magna International (www.magna.com) is the most diversified automotive supplier in the world. We design, develop and manufacture automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America and Africa. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body and structural systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

Magna has more than 102,000 employees in 263 manufacturing operations and 84 product development, engineering and sales centers in 26 countries.

SOURCE Cosma International

For further information:

Tracy Fuerst
Director, Corporate Communications
(248) 729-2731
tracy_fuerst@magna.on.ca

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