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MAGNA STEYR growth for 2010

Magna © photocase.com/SanneK1

© photocase.com/SanneK1

March 10, 2011

2010 a successful year for the Austrian automotive producer

2010 was a successful year for MAGNA STEYR , in Graz, Austria. MAGNA is an operating unit of Magna International Inc. and designs, develops and manufactures automotive systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America and Africa.
MAGNA STEYR has global capabilities with 36 locations and 9,000 employees in North America, Europe and Asia Pacific. Magna International has more than 96,000 employees, 256 manufacturing operations and 82 product development, engineering and sales centers in 26 countries.

2010 was a very successful year for MAGNA, where the Austrian production of vehicles rose 52 % to 86.620 units compared to 2009. Likewise, revenue increased by 23 % to 2,16 bil. USD. The existing contract to build the BMW X3 SUVs expired in fall of 2010. At the same time a new production of the Mini Countryman started. The plant in Graz, Austria employs almost half of the Austrian MAGNA workers (6.000) where MAGNA produces the Mercedes G-Class, the Peugeot RCZ, the Mini Countryman and the chassis for the Mercedes SLS AMG.

Magna E-Car Systems, an in 2010 formed joint venture between Magna International and the Stronach Trust, opened its latest facility, a new hybrid- and electric-vehicle system development center and state-of-the-art battery/materials testing facility in Auburn Hills, Michigan. The Magna E-Car Systems joint venture serves as the gateway to Magna's diversified range of hybrid- and electric-vehicle capabilities. Magna E-Car Systems will continue to deliver innovative solutions for future mobility while increasing capabilities, which already include the ability to develop, manufacture, and integrate a wide range of hybrid and electric products and total vehicle systems.

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