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Magna International buys Porsche Engineering Services in TroyHigh degree of competence in the area of bodyshell development

Stuttgart/Aurora, Ontario. Dr. Ing. h.c. F. Porsche AG, Stuttgart, and Magna International Inc., Aurora, Ontario, Canada, have signed an agreement whereby Magna will purchase Porsche Engineering Services (PES) in Troy, Michigan.

PES Troy was founded in 1990 and belongs to Porsche Engineering Group GmbH in Weissach. The 120 employees in Troy have primarily worked on development orders for the American market. Following the takeover, PES will be integrated in the Magna subsidiary Magna Steyr North America to which the engineering centre in Detroit, Michigan, and the painting plant in Toledo, Ohio, belong. Magna Steyr North America has around 300 employees.

Siegfried Wolf, Co-CEO of Magna International: “For Magna, the acquisition of PES Troy means a targeted, strategic expansion of the engineering presence on the North American market. Thanks to the high level of competence of PES Troy, especially in the area of bodyshell development, we will in future be able to offer our customers in the automotive industry an expanded and deeper range of services.”

“Wolfgang Dürheimer, Director of Research and Development at Porsche AG: “For reasons of efficiency, all development activities for external customers will in future be controlled by Porsche Engineering Group GmbH at Weissach. We are therefore delighted to have found a competent group in Magna as future owner of our engineering subsidiary in North America, which offers employees good perspectives.”

All worldwide development projects for external customers will be controlled by Porsche Engineering Group GmbH (PEG) based in Weissach. The company supports its customers throughout the entire product creation process with the development of components, systems and complete vehicles. PEG is able to draw on all the facilities and test benches at the Porsche Development Centre in Weissach, the 2,300 employees in the Development department, as well as the employees of the subsidiaries in Bietigheim-Bissingen and Prague (Czech Republic). Around 400 employees will be engaged at PEG following the sale of PES Troy.

Magna International Inc., the most diversified car supplier in the world, has more than 84,000 employees in 224 production operations and 60 Development Centres. The company has a presence in 22 countries. The subsidiary Magna Steyr develops, produces and assembles parts, systems and complete vehicles on behalf of vehicle manufacturers. Around 11,400 people are employed at Magna Steyr.



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