Cosma International Expands Its Mexican Operations.Business Editors/Automotive Writers TROY, Mich.--(BUSINESS WIRE)--June 1, 2004 Cosma International ("Cosma"), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Magna, today announced the acquisition of a large sheet metal stamping facility in the Ramos Arizpe Ramos Arizpe (IPA: [ˈramos ˌaˈrispe]) is a city and its surrounding municipality in the Mexican state of Coahuila. Ramos Arizpe is located 11 km from the state capital of Saltillo. area of Mexico. This 350,000 sq. ft. facility will support Cosma's growing need for press and assembly capacity in the Mexican automotive market, particularly for products such as large welded assemblies and exterior body panels. This will bring the total number of facilities that Cosma operates in Mexico to five. "We are proud to be actively pursuing opportunities within Mexico's growing economy, and to welcome more employees to our global Cosma family," commented Horst Prelog, President of Cosma. "Our customers have demonstrated their desire to have Cosma as a partner on strategic vehicle programs of the future, and our Mexican operations have been direct beneficiaries of these partnerships." Notes to Editor: About Cosma: Cosma 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 processes, including hydroforming hy·dro·form·ing n. A process in which naphthas are converted to high-octane aromatics in the presence of hydrogen and a catalyst under pressure and heat. hy , stamping, and rollforming. Cosma has 37 manufacturing facilities and 11 engineering and testing facilities worldwide. About Magna: Magna International Magna International Inc. TSX: MG is a Canadian company based in Aurora, Ontario. It is Canada's largest automobile parts manufacturer, and one of the country's largest companies. It also owns the successful Magna Steyr automobile production company of Austria. Inc., the most diversified automotive supplier in the world, designs, develops and manufactures automotive systems See ITS, embedded system, drive-by-wire, adaptive cruise control, collision avoidance system, autonomous vehicle, heads-up display, DSRC, lane departure system, CAN bus, FlexRay and SYNC. , 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 North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Mexico, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. and Asia. Magna's products include: automotive interior and closure components, systems and modules through Intier Automotive Inc.; metal body systems, components, assemblies and modules through Cosma International; exterior and interior mirror and engineered glass systems through Magna Donnelly; fascias, front and rear end modules, plastic body panels, exterior trim components and systems, greenhouse and sealing systems, roof modules and lighting components through Decoma International Inc.; various engine, transmission and fueling systems and components through Tesma International Inc.; a variety of drivetrain components through Magna Drivetrain; and complete vehicle engineering and assembly through Magna Steyr Magna Steyr (properly Magna Steyr Fahrzeugtechnik AG & Co KG ) is an automobile manufacturer based in Oberwaltersdorf, Austria. It is a subsidiary of Canadian-based Magna International, and was previously part of the Steyr-Daimler-Puch conglomerate. . Magna has approximately 75,000 employees in 210 manufacturing operations and 49 product development and engineering centers in 22 countries. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion