Magna Electronics Acquires Bluwav Systems LLC, Expands Alternative Propulsion Capabilities

Magna Electronics Acquires Bluwav Systems LLC, Expands Alternative Propulsion
Capabilities

AURORA, Ontario, Oct. 23 /PRNewswire/ -- Magna Electronics, an operating
unit of Magna International Inc., announced today the acquisition of BluWav
Systems LLC, a developer and supplier of electric and energy-management
systems for hybrid electric vehicles, plug-in hybrid vehicles and battery
electric vehicles. BluWav is located in Rochester Hills, Michigan.
BluWav will enhance Magna Electronics' position in developing and
supplying components and systems to the emerging automotive market for
electric and hybrid vehicles.
"BluWav provides technical leadership in multiple product areas for Magna
Electronics as well as our other operating units," said Carlos Mazzorin,
President of Magna Electronics. "In addition, this acquisition will allow
Magna to bring innovative electric/hybrid-vehicle systems to market faster,
while simultaneously developing the next-generation systems for tomorrow's
hybrid and electric vehicles."
"As a leader in advanced electric propulsion and energy-management
systems, we look forward to joining the Magna family and contributing a
competitive edge in advanced systems for hybrid and electric vehicles," said
Kevin Pavlov, President and CEO of BluWav Systems.
About BluWav
BluWav Systems LLC, is based in Rochester Hills MI and is a developer and
supplier of electric propulsion and energy management systems for Hybrid
Electric Vehicles (HEV), Plug-in Hybrid Electric Vehicles (PHEV), and Battery
Electric Vehicles (BEV). BluWav focuses on incorporating advanced technology
into its products in each segment and creating an optimal combination of
products to form complete propulsion systems. BluWav's products are grouped
into three distinct segments that together provide more than 80% of the
propulsion system content for an HEV, PHEV, and BEV. BluWav is truly "changing
the way the world moves(TM)".
About Magna Electronics
Magna Electronics, an operating unit of Magna International, manufactures
a range of electronics products, including Driver Assistance products such as
reverse assist cameras, ultrasonic park assist systems, lane departure warning
systems, and automatic nightbeam control, in addition to engine electronics,
body electronics, brushless motors and power controllers.
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; as well as complete vehicle engineering and
assembly.
Magna has approximately 82,000 employees in 241 manufacturing operations
and 62 product development and engineering centers in 23 countries.
SOURCE Magna Electronics

Tracy Fuerst, Director, Corporate Communications of Magna Electronics,
+1-248-729-2731, tracy_fuerst@magna.on.ca