News Release - Magna Steyr Pops the Top on Fiat 500 Cabrio

AURORA, Ontario, Canada, June 28, 2011 – Magna Steyr, an operating unit of Magna International Inc., announced today that its roof systems group has started production of the textile folding roof for the 2012 Fiat 500 Cabrio being sold in North America. The vehicle, which is built at Chrysler Group LLC’s Toluca (Mexico) Assembly Plant, was presented at the New York International Auto Show and is now available in Canada, the United States and Mexico.

Magna Steyr manufactures the folding roof at its plant in Tychy, Poland, where the convertible roof for the European Fiat 500c is also produced. Magna Steyr’s roof systems facility in Mexico then performs final assembly checks and sequencing for just-in-time delivery to the Toluca assembly facility. The 500c features a premium, dual-layer multi-position power-retractable cloth top that can be operated at speeds up to 50mph.

“The production of this roof system confirms that our efforts to gain new roof business are producing positive results and that our market position in North America is strengthening,” said Guenther Apfalter, President of Magna Steyr. “In particular, we are delighted that an iconic vehicle such as the Fiat 500c uses a textile folding roof, one of the innovative products from our roof systems group.”

About Magna Steyr
As the worldwide leading, brand-independent engineering and manufacturing partner for OEMs, Magna Steyr offers engineering services up to and including complete vehicle development, flexible vehicle assembly solutions from niche to volume production, innovative fuel systems, and an entire range of roof systems. As a contract manufacturer, we have produced 2.5 million vehicles – of 21 different models – to date.

About Magna International
Magna International (www.magna.com) is the most diversified automotive supplier in the world. We design, develop and manufacture 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. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body and structural systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

Magna has more than 102,000 employees in 263 manufacturing operations and 84 product development, engineering and sales centers in 26 countries.
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