Business
Nissan Informs Magna of its Intention to Assemble Future Infiniti Compact Vehicle In-House
AURORA, ON, Oct. 19, 2012 /CNW/ - Nissan Motor Co. Ltd. today informed Magna of Nissan's in...
About this update from Magna International Inc.
[{"type":"text","content":"\n\n\n\n\n\nAURORA, ON, Oct. 19, 2012 /CNW/ - Nissan Motor Co. Ltd. today informed\n Magna of Nissan's intention to assemble its future premium compact\n Infiniti vehicle in-house. In May 2012, Magna and Infiniti had\n announced a memorandum of understanding relating to assembly of the\n vehicle by Magna Steyr on a contract manufacturing basis.\n\n\n\"Although we would have liked to see the assembly of Infiniti's new\n compact vehicle realized at Magna Steyr, we are pleased that Magna\n remains an important supplier for Nissan Motor Co. Ltd.,\" said Gunther\n Apfalter, President of Magna Steyr and Magna International Europe.\n \"Nissan's project team has affirmed their willingness to work with\n Magna Steyr if future contract assembly opportunities arise, and we\n look forward to supporting them as needed.\"\n\n\nAbout Magna International\nMagna is a leading global automotive supplier with 296 manufacturing\n operations and 88 product development, engineering and sales centres in\n 26 countries. Our 115,000 employees are focused on delivering superior\n value to our customers through innovative processes and World Class\n Manufacturing. Our product capabilities include body, chassis,\n interiors, exteriors, seating, powertrain, electronics, mirrors,\n closures and roof systems and modules, as well as complete vehicle\n engineering and contract manufacturing. Our common shares trade on the\n Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For\n further information about Magna, visit our website at www.magna.com.\n\n\n# # #\n\n\nFORWARD LOOKING STATEMENTS\n\n\nThis media release contains statements that constitute \"forward-looking\n statements\" within the meaning of applicable securities legislation,\n including, but not limited to, statements relating to: supply of\n components to Infiniti and potential future contract vehicle assembly\n opportunities. The forward-looking information in this Press Release is\n presented for the purpose of providing information about management's\n current expectations and plans and such information may not be\n appropriate for other purposes. Forward-looking statements may include\n financial and other projections, as well as statements regarding our\n future plans, objectives or economic performance, or the assumptions\n underlying any of the foregoing, and other statements ...