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Magna International Inc
Symbol MG
Shares Issued 212,591,163
Close 2014-09-02 C$ 123.36
Market Cap C$ 26,225,245,868
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Magna Int'l begins Spring Hill plant construction

2014-09-03 14:38 ET - News Release

Mr. Mike Bisson reports

MAGNA BEGINS CONSTRUCTION ON NEW TENNESSEE SEATING FACILITY

Magna International Inc. has started construction on a new, state-of-the-art manufacturing facility located in Spring Hill, Tenn. The 122,500-square-foot facility will manufacture complete seat assemblies supplying General Motors' Spring Hill assembly plant. The plant will be fully operational in January, 2015.

"This new facility demonstrates our commitment to GM in delivering high-quality products through our world-class manufacturing initiatives," said Mike Bisson, president of Magna Seating. "We are pleased to support our customer and look forward to potential growth opportunities."

"Spring Hill, Maury County and the State of Tennessee have been extremely supportive in our plans for the new plant," said Jeff Fuller, general manager of Magna Spring Hill. "We are excited to partner with the local government to create jobs and position ourselves for future business."

The new facility becomes Magna's fifth location in Tennessee and is expected to employ approximately 75 people when it begins production next year.

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