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MAGNA Drivetrain becomes Magna’s seventh operating groupe
Magna International Inc. has increased the profile of its range of services in the engineering and assembly of all-wheel drive systems, modules, and complete vehicles. In addition to its complete vehicle engineering and assembly capabilities at MAGNA STEYR, Magna has formed the MAGNA Drivetrain group, specializing in the engineering and production of all-wheel drive systems.
"Having gained valuable experience and expertise over the decades, especially in all-wheel drive engineering, we are committed to consolidating our market leadership position in this field," said Siegfried Wolf, Executive Vice Chairman of Magna International, explaining the strategic decision to focus Magna’s competence to a greater extent in a product area that is becoming increasingly important in the global automotive industry and that has significant growth potential.
Magna’s new group stems from its MAGNA STEYR Powertrain division. "This division has experienced significant growth in recent years and its capabilities rank highly in the automotive industry, particularly in the all-wheel drive market. In view of our corporate philosophy it was a logical decision to have MAGNA Drivetrain operate as a separate unit, focused on the growing market opportunities," said Wolf.
MAGNA Drivetrain currently has facilities in Austria, the USA and Mexico. Additional capacity is being planned in North America. MAGNA Drivetrain will focus on expanding its customer base, along with cultivating its long-standing business relations with such manufacturers as BMW, DaimlerChrysler, General Motors, Renault and Volkswagen.
The strategic business areas are clearly defined at MAGNA Drivetrain and MAGNA STEYR, with all-wheel drive engineering as the common interface:
• The focus at MAGNA Drivetrain will be on the engineering and assembly of subsystems and modules in the areas of driveline and chassis. Development and assembly of mass balancing systems for engines will also continue to be an additional business line.
• MAGNA STEYR will further concentrate even more on developing custom-made drive systems for future vehicles and integrating them into the complex network of dynamic handling systems, as well as on the engineering and assembly of complete vehicles such as MPV’s, all-wheel drive SUV’s, Convertibles, Coupés etc.
Close cooperation and the exploitation of existing synergies will continue to help the two groups to achieve a unique competitive position.
With the formation of MAGNA Drivetrain, Magna has seven independent groups in the automotive sector (see diagram) with a comprehensive range of services. Magna is better positioned than ever to meet the automotive industry’s future demands.
Aurora, Ontario / Oberwaltersdorf, on April 2nd, 2004
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