News Release - Magna to Produce Carbon Fiber Composite Body Panels
Complete range of lightweight parts now includes class-A surfaces
VIENNA, Austria, March 11, 2014 – Magna International Inc. announces that its Magna Exteriors operating unit has been awarded new business to supply painted automotive body panels made from carbon fiber composite material for two 2016 model-year vehicles.
Magna Exteriors has successfully advanced its capabilities to now produce class-A carbon fiber composite body panels at the production rates needed for the automotive industry. Having built on its years of experience with carbon fiber composites, Magna's innovative solution was developed with Zoltek Panex 35 carbon fiber to provide industry-leading value.
This effort followed the successful collaboration between Magna and Zoltek to develop CFS-Z carbon fiber sheet molding compound. Magna now offers global manufacturers a complete range of lightweight composite parts, sub-systems and semi-structural applications for automotive as well as commercial truck and other markets.
“With our unique formulations and production expertise, we’ve been able to take our carbon fiber processing and know-how to the next level – that being outer body panels,” said Tom Pilette, Vice President of Product and Process Development for Magna Exteriors. “By continuing to develop vehicle parts and systems with cutting-edge materials, we are able to assist our customers meet fuel-economy and emissions standards for their cars and trucks.”
Magna Exteriors will display samples of its carbon fiber composite parts at the JEC Europe Composites Show, March 11-13 in Paris, France. Please visit the Zoltek booth: Level 7.2, booth D19.
About Magna Exteriors
Magna Exteriors, an operating group of Magna International Inc., is a full-service global supplier of automotive exterior systems. We design, engineer and manufacture bumper fascia systems; exterior trim; modular systems; class A body panels; structural components; and under hood and underbody components for automotive, commercial truck, consumer, and industrial markets.
About Magna International
We are a leading global automotive supplier with 316 manufacturing operations and 84 product development, engineering and sales centres in 29 countries. We have over 125,000 employees focused on delivering superior value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure 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.
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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.
VIENNA, Austria, March 11, 2014 – Magna International Inc. announces that its Magna Exteriors operating unit has been awarded new business to supply painted automotive body panels made from carbon fiber composite material for two 2016 model-year vehicles.
Magna Exteriors has successfully advanced its capabilities to now produce class-A carbon fiber composite body panels at the production rates needed for the automotive industry. Having built on its years of experience with carbon fiber composites, Magna's innovative solution was developed with Zoltek Panex 35 carbon fiber to provide industry-leading value.
This effort followed the successful collaboration between Magna and Zoltek to develop CFS-Z carbon fiber sheet molding compound. Magna now offers global manufacturers a complete range of lightweight composite parts, sub-systems and semi-structural applications for automotive as well as commercial truck and other markets.
“With our unique formulations and production expertise, we’ve been able to take our carbon fiber processing and know-how to the next level – that being outer body panels,” said Tom Pilette, Vice President of Product and Process Development for Magna Exteriors. “By continuing to develop vehicle parts and systems with cutting-edge materials, we are able to assist our customers meet fuel-economy and emissions standards for their cars and trucks.”
Magna Exteriors will display samples of its carbon fiber composite parts at the JEC Europe Composites Show, March 11-13 in Paris, France. Please visit the Zoltek booth: Level 7.2, booth D19.
About Magna Exteriors
Magna Exteriors, an operating group of Magna International Inc., is a full-service global supplier of automotive exterior systems. We design, engineer and manufacture bumper fascia systems; exterior trim; modular systems; class A body panels; structural components; and under hood and underbody components for automotive, commercial truck, consumer, and industrial markets.
About Magna International
We are a leading global automotive supplier with 316 manufacturing operations and 84 product development, engineering and sales centres in 29 countries. We have over 125,000 employees focused on delivering superior value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure 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.