Carbon-fiber hoods help meet fuel economy and emissions standards
AURORA, ON, May 16, 2016 /CNW/ - Magna International Inc. has been selected as a 2016 JEC Americas Innovation Award winner in the automotive category for the molding process used in making carbon-fiber hoods for Cadillac. The award is based on criteria including technical excellence, working with supply-chain partners, market potential and originality.
The JEC Innovation Awards identify, promote and reward the most innovative composite solutions worldwide. This year's winners were announced May 4, 2016, as part of the JEC Americas Composites Show & Conferences in Atlanta, Georgia.
"Our thanks to the judges for recognizing our efforts with a JEC Innovation Award," said Grahame Burrow, president of Magna Exteriors. "We pride ourselves at Magna on our engineering and manufacturing leadership, and in having the breadth of knowledge to work with the right materials for the right applications as we respond to customer and market challenges with innovative, reduced-mass solutions."
At its Polycon Industries manufacturing division in Ontario, Magna manufactures the auto industry's first volume production of carbon fiber hoods for Cadillac's 2016 ATS-V and CTS-V high-performance models. The hoods are more than 27 percent lighter than aluminum hoods and 72 percent lighter than steel hoods.
The innovation is the result of years of development at Magna, which has seen the company at the forefront of R&D efforts to enable carbon-fiber manufacturing at the required volumes for the auto industry.
"Through our lightweighting expertise, we can help customers meet challenging fuel economy and reduced emissions standards," said Swamy Kotagiri, Magna's Chief Technology Officer. "Our ability to look at the vehicle holistically uniquely positions us to offer solutions from advanced and ultra high-strength steels to thin seats, multi-material structures, and innovative composites like carbon fiber hoods – we cover it all."
We are a leading global automotive supplier with 306 manufacturing operations and 92 product development, engineering and sales centres in 29 countries. We have over 147,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. These figures include manufacturing operations, product development, engineering and sales centres and employees in equity accounted operations. Our product capabilities include producing body, chassis, 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.
For further information: Tracy Fuerst, Director, Corporate Communications & Media Relations, (248) 631-5396, [email protected]