- Paint shop to complement production at Magna Steyr in
Graz
- Facility expected to begin operations in 2019
- Recruiting for approximately 400 new employees already under
way
SAILAUF, Germany, Oct. 17, 2017 /CNW/ - Due to a full book of
business at its contract manufacturing facility in Graz, Austria, Magna will build a second paint
shop 75 kilometers away in Maribor/Hoče, Slovenia.
High demand for engineering and contract manufacturing by
automakers such as BMW, Mercedes-Benz and Jaguar Land Rover has
resulted in the Graz facility
running at high capacity utilization. Magna Steyr currently
manufactures the BMW 5 Series and the Mercedes-Benz G-Class, with
the Jaguar E-PACE beginning to launch now and Jaguar I-PACE
expected to launch early in 2018. Taking into account these and
other upcoming programs, Magna Steyr is expected to contract
manufacture approximately 200,000 vehicles per year by 2018.
Construction of the new facility begins today, with completion
of the $100-million paint shop
planned for late 2018 and operations expected to begin in 2019. The
recruiting process for approximately 400 new employees has already
started.
"The all-in-one competence in vehicle engineering and
manufacturing puts Magna in a unique position in the global
automotive supply industry, which we continuously push forward with
new investments," said Günther Apfalter, President Magna
International Europe & Magna Steyr. "Furthermore we are proud
to bring jobs and investment to this region."
TAGS
Contract manufacturing, state-of-the-art technology, economic
development Slovenia
ABOUT MAGNA
We are a leading global automotive supplier with 327 manufacturing
operations and 100 product development, engineering and sales
centres in 29 countries. We have over 161,000 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 press release contains statements that constitute
"forward-looking statements" or "forward-looking information"
within the meaning of applicable securities legislation, including,
but not limited to, statements relating to expected timing for
start of production of the slovenia paint line and anticipated
total production volume for all vehicles at Magna Steyr's
Graz assembly plant by 2018. The
forward-looking information in this document is presented for the
purpose of providing information about management's current
expectations and plans and such information may not be appropriate
for other purposes. Forward-looking statements may include
financial and other projections, as well as statements regarding
our future plans, objectives or economic performance, or the
assumptions underlying any of the foregoing, and other statements
that are not recitations of historical fact. We use words such as
"expect", "may", "would", "could", "should", "will", "likely",
"anticipate", "believe", "intend", "plan", "forecast", "outlook",
"project", "estimate" and similar expressions suggesting future
outcomes or events to identify forward-looking statements. Any such
forward-looking statements are based on information currently
available to us, and are based on assumptions and analyses made by
us in light of our experience and our perception of historical
trends, current conditions and expected future developments, as
well as other factors we believe are appropriate in the
circumstances. However, whether actual results and developments
will conform with our expectations and predictions is subject to a
number of risks, assumptions and uncertainties, many of which are
beyond our control, and the effects of which can be difficult to
predict, including, without limitation: declines in consumer
confidence and the impact on production volumeS; our ability to
successfully launch material new business; shifts in market share
away from our top customers; shifts in market shares among vehicles
or vehicle segments, or shifts away from vehicles on which we have
significant content; a prolonged disruption in the supply of
components to us from our suppliers; work stoppages and labour
relations disputes; a reduction in outsourcing by our customers or
the loss of a material production or assembly program; the
termination or non-renewal by our customers of any material
production purchase order; risk of production disruptions due to
natural disasters or catastrophic event; and other factors set out
in our Annual Information Form filed with securities commissions
in Canada and our annual report on Form 40-F filed with
the United States Securities and Exchange Commission, and
subsequent filings. In evaluating forward-looking statements, we
caution readers not to place undue reliance on any forward-looking
statements and readers should specifically consider the various
factors which could cause actual events or results to differ
materially from those indicated by such forward-looking
statements.
SOURCE Magna International Inc.