MG/CN Magna International Inc.

Magna Introduces Industry-First, 100% Melt Recyclable Foam and Trim Seating Solutions

Magna Introduces Industry-First, 100% Melt Recyclable Foam and Trim Seating Solutions

  • Solution utilizes PET mono-materials in both foam and trim, contributing to the circular economy
  • Sustainable option without compromising comfort, style or performance
  • Magna partnering with TWE Group to create 100% recycled trim foundation

AURORA, Ontario, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Magna announces its EcoSphere™ product family, an industry-first solution that eliminates the disposal of seating foam pads and trim covers in landfills by utilizing mono-material polyethylene terephthalate (PET) with the company’s innovative 100% Melt Recyclable Foam and Trim system. Magna’s new EcoSphere product family is comprised of sustainable trim materials, trim padding, structures and foam.

The product family leverages Magna's expertise in the integration of foam chemistry, trim manufacturing, craftsmanship and tooling to develop a seamless and affordable solution. In addition, the 100% Melt Recyclable Foam and Trim technology ensures that the look and feel of the seating materials remain consistent with industry standards, while significantly reducing the environmental impact.

“As a top priority for our stakeholders, we recognize the need for innovative solutions that minimize environmental impact,” said Carrie Young, Chief Engineer, Seating Innovation, at Magna. “This unique product family enables our seating materials to be repurposed and reused in the creation of new polyester products, contributing to a circular economy approach. Our technology offers automakers a game-changing opportunity to enhance sustainability without compromising on comfort, quality or performance.”

Magna EcoSphere Trim Foundation is an essential part of the 100% Melt Recyclable Foam and Trim technology. Trim foundation can be found in every seat produced. It is laminated to the back of trim materials to provide support and a crisp appearance. To source 100% recycled materials for EcoSphere Trim Foundation, Magna has partnered with TWE Group, a multinational company that specializes in manufacturing technical textiles and nonwovens. TWE’s rePEaT® solutions include products made from recycled and biodegradable fibers.

Magna’s sustainable seating approach contributes to the company’s net-zero goal by utilizing recycled and bio-based materials, implementing energy-efficient manufacturing processes and considering end-of-life management. This reduces greenhouse gas emissions and lowers the carbon footprint of Magna's products.

To learn more about these new seating products, visit .

TAGS

EcoSphere, Seating, Sustainability, Product & Technology

INVESTOR CONTACT

Louis Tonelli, Vice-President, Investor Relations

, 905-726-7035

MEDIA CONTACT

Tracy Fuerst, Vice President, Corporate Communications & PR

, 248-761-7004

ABOUT MAGNA

Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of over 174,000 employees across 351 manufacturing operations and 103 product development, engineering and sales centers spanning 30 countries. With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape.

For further information about Magna (NYSE:MGA; TSX:MG), please visit or follow us on social.

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT .

A photo accompanying this announcement is available at



EN
11/10/2023

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Magna International Inc.

 PRESS RELEASE

Magna Announces 2025 Annual & Special Meeting Results

Magna Announces 2025 Annual & Special Meeting Results AURORA, Ontario, May 08, 2025 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2025 annual and special meeting of shareholders held on May 8, 2025. A total of 221,621,186 Common Shares or 78.66% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows: a.        Election of Directors         NomineeVotes FORNomineeVotes FORMary S. Chan98.05%William A. Ruh88.30%Hon...

 PRESS RELEASE

Magna Announces First Quarter 2025 Results

Magna Announces First Quarter 2025 Results Comparing the first quarter of 2025 to the first quarter of 2024:  - Sales decreased 8% to $10.1 billion, as global light vehicle production decreased 3%, which included 8% and 5% declines in Europe and North America, respectively  - Diluted earnings per share of $0.52 and Adjusted diluted earnings per share of $0.78, compared to $0.03 and $1.08, respectivelyFirst quarter performance was broadly ahead of our expectations driven by strong incremental margins on better than anticipated vehicle productionReturned $187 million to shareholders through d...

Dave Nicoski ... (+2)
  • Dave Nicoski
  • Ross LaDuke

Vermilion Short Shots: Technically Vulnerable Stocks

Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.

 PRESS RELEASE

Magna International Inc. Announces Date for First Quarter 2025 Results...

Magna International Inc. Announces Date for First Quarter 2025 Results Webcast AURORA, Ontario, April 08, 2025 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:) (NYSE:)  MAGNA INTERNATIONAL INC. ANNOUNCES DATE FORFIRST QUARTER 2025 RESULTS WEBCAST FRIDAY, MAY 2nd, 2025 @ 8:00 AM EDT LIVE AUDIO WEBCASTWebcast registration:    DIAL-IN DETAILSParticipant Toll-Free Dial-In: 1-800-715-9871Participant Toll Dial-In: 1-646-307-1963Conference ID: 9829976Slide presentation will be available on our website prior to the call REBROADCAST INFORMATIONReplay available 2 hours after the call and will...

 PRESS RELEASE

Magna to Showcase Advanced Innovations at Auto Shanghai 2025

Magna to Showcase Advanced Innovations at Auto Shanghai 2025 Magna’s vehicle technologies and high-performance parts and systems to be on displayKey focus areas include sustainable innovations, ADAS, personalized brand experiences and complete vehicle solutionsPress conference on April 24 at Magna Booth 2BC011 in Hall 2.2 SHANGHAI, April 08, 2025 (GLOBE NEWSWIRE) -- For over 65 years, Magna has been at the forefront of automotive innovation. For the first time, the company will exhibit at Auto Shanghai 2025, presenting essential vehicle technologies and high-performance parts and systems...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch