Magna International Inc

Cosma International and Shin Young Metal Announce Hyundai Russia Award

    Aurora, Canada (ots/PRNewswire) -

    - Joint Venture Provides Global Support for Korean Automaker

    Cosma International, an operating unit of Magna International Inc. and a  leading global automotive metalforming supplier, and its joint-venture  partner Shin Young Metal Ind. Co., a Korea-based automotive supplier, today  announced a major new-business award from Hyundai Motor Corporation.

    Cosma and Shin Young Metal will supply major stampings and welded assemblies to Hyundai's new assembly plant in St. Petersburg, Russia, which,  is expected to be operational in 2010. Cosma and Shin Young Metal will supply  Hyundai from a greenfield manufacturing facility to be built in close  proximity to the Hyundai assembly plant.

    Jim Tobin, Magna International's Executive Vice President of Business  Development and President of Magna Asia, said, "This new business with  Hyundai shows the joint venture between Cosma and Shin Young Metal  effectively supports the global expansion of our OEM partners. We look  forward to supporting the growth of Hyundai and the Russian automotive market  through our combined global footprint and expertise."

    "Shin Young Metal and Cosma are excited about this tremendous opportunity and are committed to providing best-in-class support to Hyundai,"  commented Mr. Ho Gap Kang, CEO of Shin Young Metal.

    About Shin Young Metal

    Shin Young Metal was established 30 years ago and has become a key player in the Korean automotive industry. Shin Young and its related companies are involved in stamping and assembly, tool and die design, construction, try-out, and production and assembly of automotive components.

    About Cosma

    Cosma International (http://www.cosma.com), an operating unit of Magna

    International, manufactures a comprehensive range of metal body systems,  components, assemblies and modules including complete vehicle frames, chassis  systems and body-in-white systems using a variety of innovative processes  including hydroforming, stamping and roll forming. Cosma has 37 manufacturing  facilities and 12 product development and engineering centers worldwide.

    About Magna International

    Magna is the most diversified automotive supplier in the world. Magna  designs, develops and manufactures automotive systems, assemblies, modules  and components, and engineers and assembles complete vehicles, primarily for  sale to original equipment manufacturers of cars and light trucks in North  America, Europe, Asia, South America and Africa. Magna's capabilities include  the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body and chassis systems;  vision systems; electronic systems; exterior systems; powertrain systems;  roof systems; as well as complete vehicle engineering and assembly.

    Magna has approximately 83,000 employees in 240 manufacturing operations  and 62 product development and engineering centers in 23 countries.

ots Originaltext: Magna International Inc.
Im Internet recherchierbar: http://www.presseportal.ch

Contact:
For further information: Cosma International: Tracy Fuerst, Director,
Corporate Communications, Tel: +1-248-729-2731, Email:
tracy_fuerst@magna.on.ca/



Weitere Meldungen: Magna International Inc

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