Magna International signs new vehicle manufacturing deal with BMW

AURORA, Ont. – Magna International Inc. (TSX:MG) has signed a new deal to manufacture vehicles in Graz, Austria, for BMW Group.

The new agreement will start after production of the Mini Countryman and Mini Paceman by the Canadian company ends.

Magna has been assembling vehicles for the BMW Group since 2003 when it started building the BMW X3 sport utility vehicle.

“This new contract with the BMW Group exemplifies our customer’s confidence in Magna Steyr to deliver world class manufacturing excellence and flexibility,” said Gunther Apfalter, president of Magna Steyr and Magna International Europe.

Magna is one of the world’s largest auto parts producers with over 300 factories and more than 125,000 employees around the world.