Magna Seating Systems, P&C Group Create CAMACO North America's Largest Seating Structures

Organization

DETROIT, June 8 /PRNewswire/SupplierScout/-- Magna Seating Systems and P&C Group today announced the creation of CAMACO LLC, a new minority company dedicated to manufacturing automotive seat frames. CAMACO is the largest independent supplier of seating frames in North America.  CAMACO is operated and 68 percent-owned by the P&C Group Novi, Mich. The company recently purchased Magna Seating Systems' Columbus, Neb. and Marianna, Ark. metal seat frame manufacturing facilities along with P&C Group's Lorain, Ohio Advanced Automotive Systems facility.  "CAMACO will provide the industry with a minority sourcing choice that has the resources and expertise to manufacture the best seat frames in the world," said Arvind Pradhan, CAMACO president and chief executive officer.  Magna Seating Systems maintains 32 percent ownership of the new company and will provide short-term assistance in both management and technology to assure a smooth transition. CAMACO will operate independently and Magna's ownership will be reduced over time.  "Magna Seating Systems is pleased to be playing an important role in establishing this significant new minority company," said Richard Banfield, president of Magna Seating Systems. "Business with CAMACO is expected to represent $1 billion in minority sourcing in North America over the next seven years. We are truly pleased to be a part of this historic new company."  CAMACO's product line will include both seatback and seat cushion frames as well as miscellaneous stamped products, formed tubular components and welded assemblies.  "Forming CAMACO is strategic to the growth of the P&C Group," Pradhan said. "CAMACO, along with P&C Group's other holdings, provides a solid foundation to grow the business into a premier minority supplier of automotive structures. Over time we plan on extending into other structural areas such as doors, instrument panels and IP/cockpit crosscar beams."  The P&C Group is a major supplier of seat components and assemblies to the automotive industry. It is comprised of the Lorain County Automotive Systems and Advanced Automotive Systems companies. Its headquarters are located in Novi.  Magna Seating Systems is a full service supplier of seating systems and components to the global automotive industry. Headquartered in Livonia, Mich., the company employs more than 10,000 people. Magna Seating Systems is a Magna International Inc. company.  Magna International (NYSE: MGA), one of the most diversified automotive suppliers in the world, designs, develops and manufactures automotive systems, assemblies and components, and engineers and assembles complete vehicles, primarily for sale to car and light truck OEMs in North America, Europe, Mexico, South America and the Asia Pacific. Magna has more than 54,000 employees in 164 manufacturing operations and 29 product development and engineering centers in 18 countries.

SOURCE CAMACO LLC