Magna Wins Three Innovation Awards From SPE Europe
July 17 2018 - 10:35AM
Magna collected three first-place awards at the 2018 Society of
Plastics Engineers (SPE) Automotive Awards gala held on July 6 in
Dusseldorf, Germany. In recognition of its innovative
lightweighting efforts enabled by advanced materials, Magna’s
thermoplastic liftgate for the 2019 Jeep Cherokee won the body
exterior category; its carbon fiber subframe prototype won the
chassis category; and its torsional welding joining process won in
the enabling technology category.
“SPE clearly recognizes the importance of lightweighting
innovations in today’s automotive manufacturing environment,” said
Magna Exteriors President Grahame Burrow. “We appreciate this
recognition and look forward to bringing automakers more new
products and processes to help them meet their goals.”
Lightweight, fully recyclable, composite liftgates, like those
found on all 2019 Jeep Cherokees, are particularly beneficial as
demand for crossover and sport utility vehicles remains high
globally. These liftgate modules achieve up to 25 percent mass
savings over steel versions and are delivered as complete
assemblies to the customer. Composite materials allow for greater
design flexibility with deeper draws and tighter radii. Additional
benefits of Magna’s full-system assembly and delivery approach
include reduced complexity of the total liftgate module, lower
tooling investment and increased throughput at the assembly
plant.
The carbon fiber subframe is the result of an ongoing joint
R&D project with Ford Motor Company. The prototype subframe
achieves an 82 percent part reduction by replacing 45 steel parts
with two molded parts and six steel parts, as well as a 34 percent
mass savings compared to a subframe made of stamped steel.
Vehicle-level testing is currently underway.
Torsional welding joins plastic brackets to thermoplastic fascia
with a high-speed twisting motion that creates enough
friction-based heat to meld them together. Working with a
technology partner, Magna became the first to use torsional welding
for automotive fascia. The process is currently used for the front
fascia of the 2017 Skoda Octavia in Europe, and there are plans to
use it soon in the North American market.
TAGSAutomotive exterior systems, liftgates, composites,
welding
INVESTOR CONTACTLouis Tonelli, Vice-President, Investor
Relations louis.tonelli@magna.com, 905.726.7035
MEDIA CONTACTTracy Fuerst, Global Director of Corporate
Communications & PRtracy.fuerst@magna.com, 248.631.5396
ABOUT MAGNAWe have more than 172,000 entrepreneurial-minded
employees dedicated to delivering mobility solutions. We are a
mobility technology company and one of the world's largest
automotive suppliers with 340 manufacturing operations and 93
product development, engineering and sales centres in 28 countries.
Our competitive capabilities include body exteriors and structures,
power and vision technologies, seating systems and complete vehicle
solutions. Our common shares trade on the Toronto Stock Exchange
(MG) and the New York Stock Exchange (MGA). For further information
about Magna, visit 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.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/728f816d-5f2c-43f2-89f0-084c33737018
Magna (NYSE:MGA)
Historical Stock Chart
From Mar 2024 to Apr 2024
Magna (NYSE:MGA)
Historical Stock Chart
From Apr 2023 to Apr 2024