- First BMW Group seat programs in Magna's history
- 230,000-square-foot just-in-time facility
- Magna's fourth manufacturing plant in South Carolina
AURORA, ON, Dec. 6, 2016 /CNW/ - Magna International Inc. announced it has won multiple new seating programs from the BMW Group which will be supplied from a new, state-of-the-art seat manufacturing facility in Spartanburg County, South Carolina.
The company held a groundbreaking ceremony today at the site where construction has recently started on the 230,000-square-foot facility. The event was attended by Magna and BMW Group leadership, as well as representatives from state and county government.
"This is a new chapter in the ongoing collaboration between Magna and the BMW Group, as it's our first seating business award with this valued global customer," said Mike Bisson, president of Magna Seating. "With this investment and job creation we are extremely pleased to join the growing automotive industry in South Carolina."
Magna's new seating plant is expected to be operational in June 2017 and could employ up to 480 people by 2020. The facility will feature dedicated assembly and sequencing lines to supply seats for various BMW models at the BMW Group's nearby assembly plant.
Magna has three manufacturing locations and employs approximately 1,450 people in South Carolina. The new seating facility will be Magna's fourth location in the state.
"I congratulate Magna on this tremendous new investment in Spartanburg County. It's exciting to see South Carolina's automotive sector continue to thrive, and it means that our pro-business strategy is paying dividends," said South Carolina Secretary of Commerce Bobby Hitt.
ABOUT MAGNA INTERNATIONAL
We are a leading global automotive supplier with 312 manufacturing operations and 98 product development, engineering and sales centres in 29 countries. We have over 155,000 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.
SOURCE Magna International Inc.
Image with caption: "Magna is building a new facility in Spartanburg County, South Carolina, to supply seats to BMW. The new plant is expected to be operational by June 2017 and could employ up to 480 people over the next four years. (CNW Group/Magna International Inc.)". Image available at: http://photos.newswire.ca/images/download/20161206_C2292_PHOTO_EN_832226.jpg
For further information: INVESTOR CONTACT: Louis Tonelli, Vice-President, Investor Relations, firstname.lastname@example.org, 905.726.7035; MEDIA CONTACT: Tracy Fuerst, Global Director of Corporate Communications & PR, email@example.com, 248.631.5396