Magna Seating and Krishna Group Form a Joint Venture for the India Market



    
    50/50 joint venture to produce complete seating systems and seat
    mechanisms for OEMs in India
    

    NEW DELHI, Aug. 5 /CNW/ - Magna Seating, an operating unit of Magna
International Inc., and Krishna Group of India announced today the formation
of a 50/50 joint venture to produce complete seating systems and seat
mechanisms for automakers operating within the Pune region of India.
    The joint venture, called MSKH Seating Systems, will operate from Chakan
(near Pune, Maharashtra). MSKH Seating Systems aims to start production within
the next 12 months.
    The joint venture will bring together two leaders in automotive seating.
Magna Seating, a global company, brings in cutting-edge technology and proven
processes. Krishna Group, one of the largest complete seat suppliers in India,
will provide competitive manufacturing strength and in-depth experience of the
domestic automotive industry. Magna Seating will also bring exclusive
engineering support to the joint venture.
    "Aligning ourselves with the Krishna Group allows us to engage automakers
in the Pune region of India with a capable and competitive partner," said
Deepak Nagaraja, Vice-President, Asia-Pacific Operations, Magna Seating. "They
are a high-volume manufacturer of seating systems with a strong and
established supply base. We look forward to many successes as we enter into
this venture together."
    "We are excited to form a joint venture with Magna Seating, they are an
innovative, world-class supplier and bring valuable engineering and product
delivery expertise to the India market," said Ashok Kapur, Chairman, Krishna
Group. "By combining our resources we are able to offer Pune-area automakers
with the latest in seating technologies at a competitive price."
    The joint venture marks the initial entry of Magna Seating into India,
and also expands the presence of Magna International in the country. Magna
Powertrain, Magna Mirrors, Magna Steyr, Magna Closures and Cosma International
are the other Magna International operating groups which have operations in
India.

    About Krishna Group

    Krishna Group is one of the largest Indian automotive suppliers. Its
diversified product range includes automotive interiors components (seats,
interior plastic trim, roof headliner, gear shift mechanisms and rear view
mirrors) and metal products (fuel tanks, axles, exhaust systems and suspension
systems) with a unique tool room for plastic and stamping tool capabilities.
It has 19 state-of-the-art manufacturing plants spread across the New Delhi
and Pune regions. The Seating Division is the only seat supplier in the world
to have received the prestigious Deming Prize. The Krishna Group is committed
to following the best TQM, TPM and HR practices in a family-oriented
environment.

    About Magna Seating

    Magna Seating is an innovative leader in the development and manufacture
of high-quality complete seat solutions and seat mechanisms for the global
automotive industry. Our capabilities range from consumer and market research,
full concept development, design and engineering, testing and validation to
world-class manufacturing of seating components and complete seat assemblies.

    About Magna International

    Magna International (www.magna.com) is the most diversified global
automotive supplier. We design, develop and manufacture technologically
advanced systems, assemblies, modules and components, and engineer and
assemble complete vehicles, primarily for sale to original equipment
manufacturers of cars and light trucks. Our capabilities include the design,
engineering, testing and manufacture of automotive interior systems; seating
systems; closure systems; body and chassis systems; vision systems; electronic
systems; exterior systems; powertrain systems; roof systems; as well as
complete vehicle engineering and assembly. We have approximately 70,000
employees in 240 manufacturing operations and 86 product development,
engineering and sales centres in 25 countries.





For further information:

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


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