Magna Celebrates Grand Opening At South Carolina Seat Facility

  • First BMW Group seat programs in Magna's history
  • Plant to expand, create additional jobs
  • Magna's fourth manufacturing plant in South Carolina

AURORA, Ontario, March 26, 2018 (GLOBE NEWSWIRE) -- For the first time in its history Magna will supply seats to the BMW Group. Company officials were joined today by South Carolina Governor Henry McMaster, members of local government and executives from BMW to celebrate the grand opening of Magna's seat manufacturing facility in Spartanburg County, South Carolina.
Magna Seating S.C. grand opening
Magna officials were joined by South Carolina Governor Henry McMaster, members of local government and executives from BMW to celebrate the grand opening of Magna Seating South Carolina.

"Magna International is a longtime member of the South Carolina business community, and we're proud to see that this global company is continuing to find success here," said South Carolina Governor Henry McMaster. "I look forward to watching all that this plant will achieve in the years to come."

At the event, Magna officials also announced an expansion at the plant, which will add 25,000 square feet and an additional 130 jobs. In total, Magna is now creating 610 jobs at the 255,000-square-foot facility, where construction for the expansion is under way.

"Today represents an exciting step forward in the growth and development of our business in North America," said Burge Young, vice president of operations for Magna Seating. "We have a strong leadership team and a highly skilled workforce which is dedicated to world-class manufacturing and has a clear mission: to be the premier seat supplier to our customers here in South Carolina and around the world."

Magna has three other manufacturing locations and employs approximately 1,450 people in South Carolina. The new seating facility is Magna's fourth location in the state.

TAGSAutomotive seating, automotive seat systems, BMW Spartanburg

INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com, 905.726.7035

MEDIA CONTACT Tracy Fuerst, Global Director of Corporate Communications & PR tracy.fuerst@magna.com, 248.631.5396

ABOUT MAGNA INTERNATIONAL  We have more than 168,000 entrepreneurial-minded employees dedicated to delivering mobility solutions. We are a mobility technology company and one of the world's largest automotive suppliers with 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 .

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6d154cf0-b4b7-4de4-b2e0-9a754b215ad2

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