Magna To Launch New Exteriors Facility In Mexico

AURORA, ON, March 18, 2015 /CNW/ - Magna International Inc. announced today the start of construction at a new, state-of-the-art automotive exteriors manufacturing facility in Queretaro, Mexico.  The company held a ceremony at the site of the new plant and met with Governor of Queretaro José Calzada to jointly announce the project.

(Photo: http://photos.prnewswire.com/prnh/20150318/182941 )

With an investment of approximately $135 million USD, Magna plans to construct a 26,400-square-meter (285,000-square-foot) facility and expects to employ approximately 600 people within the first year. The facility will produce molded and painted exterior parts including fascias and rocker panels for global automakers, and the launch of the plant is projected for the first quarter of 2016.

"We are pleased to establish operations in Queretaro, a growing region for the automotive manufacturing industry with a skilled workforce and professional business environment," said Grahame Burrow, president of Magna Exteriors. "Our growth in Mexico offers opportunities for Magna to continue to align ourselves with the ongoing needs of our global customers."

Magna established its first facility in Puebla, Mexico, in 1991. With the establishment of this new facility in Queretaro, Magna will have 30 manufacturing facilities, one engineering & product development center, and more than 24,000 employees in Mexico.

About Magna International

We are a leading global automotive supplier with 313 manufacturing operations and 84 product development, engineering and sales centres in 28 countries. We have approximately 131,000 employees focused on delivering superior value to our customers through innovative products, 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.

SOURCE Magna International Inc.

Image with caption: "Magna plans to hire approximately 600 people at its Queretaro plant for the production of molded and painted automotive exterior parts supplied to global automakers. The launch of the plant is projected for the first quarter of 2016. (CNW Group/Magna International Inc.)". Image available at: http://photos.newswire.ca/images/download/20150318_C6909_PHOTO_EN_13344.jpg

For further information: Tracy Fuerst, Director, Corporate Communications & Media Relations, (248) 631-5396, Tracy.fuerst@magna.com

RELATED LINKS
http://www.magna.com

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