- Brings advanced composites and carbon fiber expertise to European market
- Develops lightweight structural and exterior components
- Enables joint development projects with European automakers
Magna opened its Composites Centre of Excellence near Toronto in 2010 in partnership with the National Research Council of Canada. Notable projects include a carbon fiber hood developed for the 2016 Cadillac V-Series and a current project with Ford Motor Company to test the feasibility of carbon fiber vehicle subframes for possible mass production.TAGSAutomotive exterior systems, carbon fiber, composites, fuel economy, emissions INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations email@example.com, 905.726.7035 MEDIA CONTACTSTracy Fuerst, Global Director of Corporate Communications & PR firstname.lastname@example.org, 248.631.5396 Rej Husetovic, Director Corporate Communications & Media Relations Europe email@example.com, (+49-6093) 9942-5056 ABOUT MAGNAWe have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a technology company and one of the world's largest automotive suppliers with 335 manufacturing operations and 96 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 .