News Release - Magna Recognized with Mahindra Award
New ladder frame sets the standard across multiple vehicle platforms
AURORA, Ontario, October 6, 2015 – Magna International Inc. announced that it has received the Best Product Development Performance Award from its customer Mahindra. The award was presented at Mahindra’s Supplier Conference in Warsaw, Poland, and recognizes the excellence of Cosma International, Magna’s body and chassis operating group, for the design, engineering and development of an innovative ladder frame for Mahindra’s Scorpio SUV and other vehicle platforms.
“We are thrilled to receive this award from our valued customer Mahindra, particularly because it recognizes our full product development capability,” said Swamy Kotagiri, Magna’s Chief Technical Officer. “From design and engineering to validation and production, our team stands ready to deliver.”
Mahindra awarded the complete re-engineering of the Scorpio chassis frame based on Magna’s engineering capabilities and global leadership in chassis systems. Magna has produced 24 million frames for its global customers.
In response, Magna proposed and engineered a modular frame that can accommodate multiple vehicles and variants, and a manufacturing process was developed to make the frames on a flexible assembly line. The company’s localization strategy has been optimized for the Indian market, and performance has been improved to meet and/or exceed the mass and safety requirements.
The complete design, engineering and development of the frame was done at Magna’s product development and engineering centers in Bangalore and Pune. Activities included product design, CAD, CAE and advanced manufacturing.
Manufacturing of the frames was launched in 2014 at Magna’s body & chassis plant in Pune, where nearly 45,000 chassis frames for Mahindra have been produced to date. The state-of-the-art stamping, welding and assembly facility – a 279,000 square-foot building with more than 450 employees – features industry-leading automotive manufacturing technologies.
About Magna International
We are a leading global automotive supplier with 287 manufacturing operations and 81 product development, engineering and sales centres in 29 countries. We have approximately 124,000 employees focused on delivering superior value to our customers through innovative products, processes and World Class Manufacturing. 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 AT WWW.MAGNA.COM.