Magna : News Release - Magna Celebrates Five Million Transfer Cases for BMW Group

SAILAUF, Germany, June 23, 2016 /CNW/ - Magna International Inc. announces a significant milestone today: five million Actimaxtransfer cases produced for BMW Group. Magna has been providing the German automaker with drive systems since 2003, including the Actimax transfer case, which powers the dynamic, fuel-saving all-wheel-drive in nearly all BMW xDrive models and is manufactured in Ilz and Lannach, Austria, and Ramos Arizpe, Mexico.

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'We are proud of the entire team's commitment as well as the trust that BMW Group has placed in us and our innovative powertrain solutions,' said Jake Hirsch , President of Magna Powertrain. 'Milestones such as this demonstrate Magna's global leadership position in developing and producing all-wheel drive and four-wheel drive systems.

Through its powertrain operating unit, Magna is the largest independent 4WD/AWD supplier globally with 29 percent of an $8.2-billion consolidated market. All-wheel drive (AWD) technology, which was once limited to off-road vehicles, is now being used in almost all vehicle segments, including compact cars.

Magna is well-positioned to support its global customers as they meet the increasing demand for all-wheel drive systems and continue to look for innovative powertrain solutions that provide high performance and fuel-economy savings.

About Magna

We are a leading global automotive supplier with 306 manufacturing operations and 92 product development, engineering and sales centres in 29 countries. We have over 147,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. These figures include manufacturing operations, product development, engineering and sales centres and employees in equity accounted operations. Our product capabilities include producing body, chassis, 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 ATWWW.MAGNA.COM.

SOURCE Magna International Inc.