Cosma International, an operating unit of Magna International Inc. and a leading global automotive metalforming supplier, announced today that it has signed an agreement with Ogihara America Corporation pursuant to which Cosma will acquire Ogihara's stamping and sub-assembly plant in Birmingham, Alabama, which recorded sales of $140 million in 2007.

On completion of the transaction, Cosma will manufacture and supply major exterior and structural welded assemblies to various customers from the acquired facility, including Mercedes-Benz, in Tuscaloosa, Alabama.

"This facility expands our manufacturing footprint in North America, specifically in the Southeast U.S., where there are tremendous growth opportunities," said Horst Prelog, president of Cosma International. "The addition of this facility is part of our overall strategic expansion which brings us closer to key customer assembly facilities."

The 460,000-square-foot Ogihara facility in Birmingham currently employs more than 280 people. Closing of the transaction is expected to occur in the second quarter of 2008, subject to satisfaction of customary closing conditions and U.S. antitrust approval.

About Cosma

Cosma International (http://www.cosma.com), an operating unit of Magna 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 innovative processes including hydroforming, stamping and roll forming. Cosma has 38 manufacturing facilities and 12 product development and engineering centers worldwide.

About Magna International

Magna is the most diversified global automotive supplier. Magna designs, develops and manufactures technologically advanced automotive systems, assemblies, modules and components, and engineers and assembles complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks. Magna's capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; metal body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; as well as complete vehicle engineering and assembly.