Strategic partnership, proprietary production capability help set the pace
PARIS, March 12, 2013 /PRNewswire/ - Magna International Inc. announced that its Magna Exteriors and Interiors (MEI) operating unit, together with strategic development partner Zoltek, offers best-in-class capabilities in providing carbon fiber composite parts and systems for high-volume automotive applications to support automakers' lightweighting initiatives.
MEI and Zoltek, the worldwide leading producer of commercial carbon fiber, have developed a low-cost carbon fiber sheet molding compound (SMC) through an exclusive global partnership. The jointly developed carbon fiber SMC material uses Zoltek's Panex® 35 commercial carbon fiber combined with Magna's unique EpicBlendSMC™ formulations and production expertise.
The material, named EpicBlendSMC EB CFS-Z, is part of MEI's EpicBlendSMC product line and allows Magna to offer global manufacturers an expanded range of lightweight parts, sub-systems and semi-structural applications for automotive as well as commercial truck and other markets. Additionally, the EB CFS-Z sheet molding compound is for sale directly to molders through MEI.MEI has recently won new business for a semi-structural component based on its EB CFS-Z SMC technology. Furthermore, one of Magna's SMC compounding facilities has installed proprietary SMC production equipment that is optimized to compound Zoltek's Panex® 35 carbon fiber. Together, MEI and Zoltek have extensive core manufacturing capabilities to serve customers in both North America and Europe, minimizing the cost and need to import carbon fiber or precursor materials into these markets. "We are working with global OEMs every day to develop lightweight solutions that help meet the increased fuel economy and decreased emissions of future vehicle programs," said Mike Andrews, VP of Operations, Magna Exteriors and Interiors. "With our EB CFS-Z SMC technology, we are now meeting the requirements for high-volume applications that call for low-cost, high-performance carbon fiber materials." About Magna Exteriors and Interiors Magna Exteriors and Interiors Corp. ( www.magna.com ), an operating unit of Magna International Inc., is a full-service global supplier of automotive exterior and interior systems. We design, engineer and manufacture front- and rear-end fascia systems; exterior trim; class A composite panels; top systems; under hood and underbody components; structural components; sidewall and trim systems; cockpit systems; cargo management systems; and overhead systems for automotive, commercial truck, consumer, and industrial markets. About Magna International We are a leading global automotive supplier with 313 manufacturing operations and 88 product development, engineering and sales centres in 29 countries. Our 119,000 employees are focused on delivering superior value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include producing body, chassis, interiors, exteriors, seating, powertrain, electronics, mirrors, closures 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 .
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