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MAGNA INTERNATIONAL AND BMW REACH FINAL AGREEMENT

 GREENVILLE/SPARTANBURG, S.C. and MARKHAM, Ont., July 23 /PRNewswire/ -- BMW Manufacturing Corporation and Magna International Inc. (TSE: MG.A., MG.B; ME: MG.A; NYSE: MGA) today announced that Magna has reached a final agreement with BMW on arrangements for the supply by Magna of stamped metal parts and assemblies to BMW for its new manufacturing facility currently being built near Greer, S.C.
 BMW announced last summer that it would build a plant in South Carolina to manufacture up to 90,000 vehicles per year. As part of its supply arrangements with BMW, Magna has been designated as BMW's principal supplier of stamped metal body systems in North America. To supply BMW on a just-in-time basis, Magna has decided to build a new stamping plant in Greenville.
 Magna's plant in Greenville, is scheduled to be ready for production by January, 1995 and may eventually employ 300 people. The new plant will initially consist of a full press line and assembly equipment to manufacture major stamping assemblies for BMW's first new vehicle program to be launched outside of Germany. The plant itself will be 150,000 square feet.
 Don Walker, Magna's President said, "The combination of Magna's new state-of-the-art facility and its partnership with BMW in this strategic geographic location reaffirms Magna's commitment to supply its global customers with the highest quality automotive parts and systems anywhere in the world."
 -0- 7/23/93
 /CONTACT: Paul Pivato, director - communications of Magna International, 416-477-7766/
 (MGA)


CO: Magna International Inc.; BMW Manufacturing Corporation ST: South Carolina, Onatario IN: AUT SU:

WB -- NY061 -- 5184 07/23/93 13:07 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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