11/10/2018 13:16:38

Magna Wins Additional Seating Business, Celebrates Opening Of New Facility

  • New state-of-the-art seat manufacturing facility in Chomutov, Czech Republic

  • Multiple seating programs for the BMW Group

  • Manufacturing plant creates in 300 new jobs

SAILAUF, Germany, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Just over a year ago, Magna launched its first-ever seating business and facility with BMW Group. Today, Magna employees and customer representatives celebrated the grand opening of another new seating facility to support BMW business. The new plant in Chomutov, Czech Republic, will be supplying seating systems in various configurations for several BMW models. Production is expected to start before the end of this year.

The state-of-the-art facility uses smart factory manufacturing concepts to increase efficiency and quality output for customers as well as provide a flexible work environment for employees. The plant has a production area measuring 6,000 square meters and the capacity to produce more than 360,000 seat sets per year. The plant has created 150 new jobs and is expected to add an additional 150 employees throughout 2019.

“This is a big win for our employees as well as our community, where we are making a positive economic impact. Our facility is using the latest technology with special attention given to high flexibility so that we can react quickly to new developments and changing requirements of our customers,” said General Manager Martin Polívka of Chomutov Seating.

“We don’t just build seats, we define what’s possible and we deliver on that to meet our customers’ ever-changing needs,” said Mike Bisson, President Magna Seating. “Continuing to win business with a customer like BMW Group is critical to our global growth and speaks to our ability to produce innovative, cost-effective seating solutions.”

Magna’s seating group has 16 manufacturing locations in Europe, five of them in the Czech Republic, along with 50 manufacturing locations and six R&D centers around the rest of the world.

TAGS

Automotive seating, automotive seat systems, Magna seating

INVESTOR CONTACT

Louis Tonelli, Vice-President, Investor Relations

louis.tonelli@magna.com, (+1) 905.726.7035

MEDIA CONTACTS

Tracy Fuerst, Global Director of Corporate Communications & PR

tracy.fuerst@magna.com, (+1) 248.631.5396

Rej Husetovic, Director Corporate Communications & Media Relations Europe

rej.husetovic@magna.com, (+49) 6093 9942-5056

ABOUT MAGNA

We have more than 173,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world's largest automotive suppliers with 339 manufacturing operations and 89 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

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/99f51b5e-31df-44d8-aca5-43b70d33e853 

Magna-Logo-RGB-HR-V1.0.jpg

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