Winner of Online Contest to Play in Pro-Am Announced
BMW of North America outlined two new initiatives to expand support of the Western Golf Association's Evans Scholars at today's Media Day for the BMW Championship, the third leg in the PGA TOUR Playoffs for the FedExCup, September 3-9 at Cog Hill Golf & Country Club in Lemont, Illinois.
Tom Purves, Chairman and CEO of BMW (US) Holding Corp., introduced the first class of Evans Scholars-BMW Interns who are gaining experience for their post-university careers by working for BMW this summer. He also announced that BMW will fund a four-year Evans Scholarship in the name of any player to score a hole-in-one on Cog Hill's 14th hole during the BMW Championship, including any amateur or professional in the Pro-Am as well as in the name of any journalist who performs a similar feat on Media Day. When the BMW Championship was announced last year, the WGA and BMW confirmed that all proceeds from the BMW Championship will benefit the Evans Scholars program.
"One of the most rewarding aspects of teaming with the Western Golf Association to sponsor the BMW Championship is involvement with their Evans Scholars program. It recognizes and rewards both academic performance and strong character traits in young men and women who work as caddies at WGA clubs. BMW is proud to become part of the WGA's rich tournament tradition and salutes the 100,000 golfers, including 36,000 Par Club members, who annually contribute to the Evans Scholars," Purves stated.
Since its founding with two Northwestern University students in 1930, the Evans Scholars Foundation has provided more than 8,400 college scholarships to golf caddies. During the 2006-07 academic year, 823 caddies attended college on Evans Scholarships, valued at nearly $10 million. Over the course of the six-year partnership, BMW's involvement in the tournament is expected to double the amount raised for the Evans Scholars Foundation. Last year, for example, the Western Open raised more than $2 million for the Foundation.
The 2007 Evans Scholars-BMW Interns are:
* Kenny McCormick, a rising senior at Northwestern University. Kenny is working with BMW's MINI Division in the Central Region office in Schaumburg, Illinois, to develop and execute sponsorships and events.
* Josh Gonzales, a rising sophomore at the University of Missouri, who is with BMW of North America's Engineering department at the company's Woodcliff Lake, NJ headquarters. Josh is providing support on product testing and development benchmark and market analysis.
* Matt Stumpf, a rising senior at the University of Illinois at Urbana-Champaign, who is also with BMW of North America's Central Region in Schaumburg. Matt is assisting with event planning for the BMW Championship. He is also shadowing personnel at several Chicago area dealerships to gain insight into the inner workings of BMW retail centers.
"The automobile industry, including our franchised dealers, offers great career opportunities. BMW is leveraging its association with the Evans Scholars to give our interns an opportunity to explore some of these opportunities in person," Purves stated. Purves predicted that the number of Evans Scholars-BMW Interns will increase in future years based on the company's experience with the first class.
John Kaczkowski, Western Golf Association Tournament Director, noted "when we first started talking with BMW a year ago, they said the WGA would receive full support for the Evans Scholars program. BMW delivered on that commitment even before the first shot of the BMW Championship has been taken. BMW respects the traditions of the WGA and is a real partner in furthering our work."
BMW will also involve its owners in creative ways in the BMW Championship.
Purves also announced the winners of a unique online contest, dubbed "The Ultimate Foursome," in which owners were asked to submit essays via www.bmwusa.com describing which professional player they would most like to team with and why. The winner -- 71 year-old Gary Zimmerman from Hartland, Wisconsin -- will be awarded the first pick in the Pro-Am draw as well as a trip for two to the BMW Championship with hotel accommodations and VIP access to tournament events. The winner was chosen based on criteria such as creativity, originality and sincerity.
BMW owners who purchase tickets to the BMW Championship will also be granted exclusive access to a viewing pavilion overlooking the 14th green by simply showing their vehicle key. The BMW Owners Pavilion will be open from Thursday through Sunday.
Additionally, the general public will have an opportunity for unparalleled access to the BMW Championship through "Drive Like an Owner" - a contest BMW is conducting via www.bmwusa.com to give a non-owner a chance to win a place in the BMW Championship Pro-Am. Contestants are asked to submit an essay explaining their Ultimate Drive on and off the course. The winner will receive a trip for two to the BMW Championship with hotel accommodations, a playing spot in the Pro-Am and VIP access to events throughout the week. Essays will be accepted online through August 3.
BMW Championship
For more than 25 years, BMW has hosted and partnered with leading amateur and professional golf tournaments around the globe. BMW sponsors professional tournaments in China, Thailand, Germany and Great Britain. The BMW Championship played at Wentworth near London is the European PGA Championship. In 2006 the Western Golf Association and the PGA TOUR announced a six-year partnership agreement with the company to conduct the BMW Championship as part of the PGA TOUR Playoffs for the FedExCup from 2007 through 2012.
BMW Group In America
BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand, the MINI brand, and the Rolls-Royce brand of Motor Cars; DesignworksUSA, an industrial design firm in California; a technology office in Silicon Valley and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is part of BMW Group's global manufacturing network and is the exclusive manufacturing plant for all BMW Z4 models and BMW X5 Sports Activity Vehicles. The BMW Group sales organization is represented in the U.S. through networks of 338 BMW passenger car centers, 335 BMW Sports Activity Vehicle centers, 142 BMW motorcycle retailers, 81 MINI passenger car dealers, and 30 Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the BMW Group's sales headquarters for North, Central and South America, is located in Woodcliff Lake, New Jersey.
Information about BMW Group products is available to consumers via the Internet at:
www.bmwgroupna.com
www.bmwusa.com
www.bmwmotorradusa.com
www.miniusa.com
www.rolls-roycemotorcars.com
Source: BMW of North America, LLC
BMW of North America outlined two new initiatives to expand support of the Western Golf Association's Evans Scholars at today's Media Day for the BMW Championship, the third leg in the PGA TOUR Playoffs for the FedExCup, September 3-9 at Cog Hill Golf & Country Club in Lemont, Illinois.
Tom Purves, Chairman and CEO of BMW (US) Holding Corp., introduced the first class of Evans Scholars-BMW Interns who are gaining experience for their post-university careers by working for BMW this summer. He also announced that BMW will fund a four-year Evans Scholarship in the name of any player to score a hole-in-one on Cog Hill's 14th hole during the BMW Championship, including any amateur or professional in the Pro-Am as well as in the name of any journalist who performs a similar feat on Media Day. When the BMW Championship was announced last year, the WGA and BMW confirmed that all proceeds from the BMW Championship will benefit the Evans Scholars program.
"One of the most rewarding aspects of teaming with the Western Golf Association to sponsor the BMW Championship is involvement with their Evans Scholars program. It recognizes and rewards both academic performance and strong character traits in young men and women who work as caddies at WGA clubs. BMW is proud to become part of the WGA's rich tournament tradition and salutes the 100,000 golfers, including 36,000 Par Club members, who annually contribute to the Evans Scholars," Purves stated.
Since its founding with two Northwestern University students in 1930, the Evans Scholars Foundation has provided more than 8,400 college scholarships to golf caddies. During the 2006-07 academic year, 823 caddies attended college on Evans Scholarships, valued at nearly $10 million. Over the course of the six-year partnership, BMW's involvement in the tournament is expected to double the amount raised for the Evans Scholars Foundation. Last year, for example, the Western Open raised more than $2 million for the Foundation.
The 2007 Evans Scholars-BMW Interns are:
* Kenny McCormick, a rising senior at Northwestern University. Kenny is working with BMW's MINI Division in the Central Region office in Schaumburg, Illinois, to develop and execute sponsorships and events.
* Josh Gonzales, a rising sophomore at the University of Missouri, who is with BMW of North America's Engineering department at the company's Woodcliff Lake, NJ headquarters. Josh is providing support on product testing and development benchmark and market analysis.
* Matt Stumpf, a rising senior at the University of Illinois at Urbana-Champaign, who is also with BMW of North America's Central Region in Schaumburg. Matt is assisting with event planning for the BMW Championship. He is also shadowing personnel at several Chicago area dealerships to gain insight into the inner workings of BMW retail centers.
"The automobile industry, including our franchised dealers, offers great career opportunities. BMW is leveraging its association with the Evans Scholars to give our interns an opportunity to explore some of these opportunities in person," Purves stated. Purves predicted that the number of Evans Scholars-BMW Interns will increase in future years based on the company's experience with the first class.
John Kaczkowski, Western Golf Association Tournament Director, noted "when we first started talking with BMW a year ago, they said the WGA would receive full support for the Evans Scholars program. BMW delivered on that commitment even before the first shot of the BMW Championship has been taken. BMW respects the traditions of the WGA and is a real partner in furthering our work."
BMW will also involve its owners in creative ways in the BMW Championship.
Purves also announced the winners of a unique online contest, dubbed "The Ultimate Foursome," in which owners were asked to submit essays via www.bmwusa.com describing which professional player they would most like to team with and why. The winner -- 71 year-old Gary Zimmerman from Hartland, Wisconsin -- will be awarded the first pick in the Pro-Am draw as well as a trip for two to the BMW Championship with hotel accommodations and VIP access to tournament events. The winner was chosen based on criteria such as creativity, originality and sincerity.
BMW owners who purchase tickets to the BMW Championship will also be granted exclusive access to a viewing pavilion overlooking the 14th green by simply showing their vehicle key. The BMW Owners Pavilion will be open from Thursday through Sunday.
Additionally, the general public will have an opportunity for unparalleled access to the BMW Championship through "Drive Like an Owner" - a contest BMW is conducting via www.bmwusa.com to give a non-owner a chance to win a place in the BMW Championship Pro-Am. Contestants are asked to submit an essay explaining their Ultimate Drive on and off the course. The winner will receive a trip for two to the BMW Championship with hotel accommodations, a playing spot in the Pro-Am and VIP access to events throughout the week. Essays will be accepted online through August 3.
BMW Championship
For more than 25 years, BMW has hosted and partnered with leading amateur and professional golf tournaments around the globe. BMW sponsors professional tournaments in China, Thailand, Germany and Great Britain. The BMW Championship played at Wentworth near London is the European PGA Championship. In 2006 the Western Golf Association and the PGA TOUR announced a six-year partnership agreement with the company to conduct the BMW Championship as part of the PGA TOUR Playoffs for the FedExCup from 2007 through 2012.
BMW Group In America
BMW of North America, LLC has been present in the United States since 1975. Rolls-Royce Motor Cars NA, LLC began distributing vehicles in 2003. The BMW Group in the United States has grown to include marketing, sales, and financial service organizations for the BMW brand, the MINI brand, and the Rolls-Royce brand of Motor Cars; DesignworksUSA, an industrial design firm in California; a technology office in Silicon Valley and various other operations throughout the country. BMW Manufacturing Co., LLC in South Carolina is part of BMW Group's global manufacturing network and is the exclusive manufacturing plant for all BMW Z4 models and BMW X5 Sports Activity Vehicles. The BMW Group sales organization is represented in the U.S. through networks of 338 BMW passenger car centers, 335 BMW Sports Activity Vehicle centers, 142 BMW motorcycle retailers, 81 MINI passenger car dealers, and 30 Rolls-Royce Motor Car dealers. BMW (US) Holding Corp., the BMW Group's sales headquarters for North, Central and South America, is located in Woodcliff Lake, New Jersey.
Information about BMW Group products is available to consumers via the Internet at:
www.bmwgroupna.com
www.bmwusa.com
www.bmwmotorradusa.com
www.miniusa.com
www.rolls-roycemotorcars.com
Source: BMW of North America, LLC
Kelleners Sport: these two words stand for the highest technological expertise and supreme performance. Since 1983, the BMW specialist Kelleners Sport from Dinslaken, Germany, have had this goal: driving enjoyment paired with high performance. Kelleners Sport caters to your individuality! If you are the proud owner of a BMW 3 series, now you can personalize it with an entire range of visual and technical refinements through 'Kelleners Sport', the only German tuner run by an active professional racing driver.
The aerodynamic package
Years of international racing experience by Ralf Kelleners has been the guiding force to the development of Kelleners Sports' products. Increased downforce is just one of the results of enhancing the contours of your BMW. This kit includes front spoiler, side mirrors, side sills as well as a roof and rear spoiler. The rear spoiler and rear skirt design accentuates not only a classier, sportier car with its diffuser look, but all-round better aerodynamics and a better co-efficiency of drag. All Kelleners Sport aerodynamic parts are comprised of PU material. This design has advantages over fiberglass as it is more flexible whilst still maintaining its given form.
Kelleners Sport also ensures that BMW's highest standards of quality are met in every detail of design and endurance.
New Vegas 2 wheel design
Kelleners Sport has a history of wheel design going back to 1991 when the world-renowned 'K wheel' was introduced. The Vegas 2's exciting new design, with its five pairs of double-spokes extending to the lip of its 19" rim, provides an even larger visual effect, while the wide spacings create an open view of the brake system. Available in four different finishes, black matt, black sheen, gun metal sheen and silver sheen, in sizes 8.5 x 19 (front, tires 235/35) and 9.5 x 19 (rear, tires 265/30). The Vegas 2 adds the Kelleners Sport touch to your vehicle that will cause heads to turn.
Interior accessories and better handling performance
There are more possibilities for individualization and improved driving. This German Tuner from Dinslaken offers suspension components, such as struts with coilovers. Improved sound is achieved through Kelleners Sport silencers. Kelleners Sport also offer a larger brake system for increased stopping power and heightened safety. The K3.2S engine kit for the 330i, with over 300 hp and a top speed of 278 km/h, is specially developed to deliver racing power and control to your fingertips. Interior design elements put finishing touches in aluminum and carbon accessories.
Magna Inc. (TSX: MG.A, MG.B; NYSE: MGA) today reported that BMW AG has informed us of its intention to commence in-house assembly of the next generation BMW X3 in Spartanburg, South Carolina, following end of production of the current generation BMW X3 at our Graz, Austria facility. While end of production for the program is at the discretion of BMW, Magna Steyr currently expects BMW X3 production to end in 2010. We are currently a significant supplier to BMW's Spartanburg facility.
We have been the sole production source of the BMW X3 since we began producing the vehicle in 2003. BMW X3 production represented approximately 45% of total vehicles assembled at Magna Steyr in 2006. We are in discussions with customers about future potential assembly opportunities for our Graz facility.
We are 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.
We have approximately 83,000 employees in 235 manufacturing operations and 62 product development and engineering centres in 23 countries.
FORWARD-LOOKING STATEMENTS
--------------------------
This press release may contain statements that, to the extent that they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or economic performance, or the assumptions underlying any of the foregoing. We use words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, assumptions and uncertainties. These risks, assumptions and uncertainties include, but are not limited to, execution of definitive agreements, regulatory, court and shareholder approvals and satisfaction of closing conditions relating to the proposed transaction involving Magna, the Stronach Trust and Russian Machines, as well as the impact of: declining production volumes and changes in consumer demand for vehicles; a reduction in the production volumes of certain vehicles, such as certain light trucks; the termination or non-renewal of our customers of any material contracts; our ability to offset increases in the cost of commodities, such as steel and resins, as well as energy prices; fluctuations in relative currency values; our ability to offset price concessions demanded by our customers; our dependence on outsourcing by our customers; our ability to compete with suppliers with operations in low cost countries; changes in our mix of earnings between jurisdictions with lower tax rates and those with higher tax rates, as well as our ability to fully benefit tax losses; other potential tax exposures; the financial distress of some of our suppliers and customers; the inability of our customers to meet their financial obligations to us; our ability to fully recover pre-production expenses; warranty and recall costs; product liability claims in excess of our insurance coverage; expenses related to the restructuring and rationalization of some of our operations; impairment charges; our ability to successfully identify, complete and integrate acquisitions; risks associated with new program launches; legal claims against us; risks of conducting business in foreign countries; unionization activities at our facilities; work stoppages and labour relations disputes; changes in laws and governmental regulations; costs associated with compliance with environmental laws and regulations; potential conflicts of interest involving our controlling shareholder, the Stronach Trust; and other factors set out in our Annual Information Form filed with securities commissions in Canada and our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings. In evaluating forward-looking statements, readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.
Source: Magna International Inc.
We have been the sole production source of the BMW X3 since we began producing the vehicle in 2003. BMW X3 production represented approximately 45% of total vehicles assembled at Magna Steyr in 2006. We are in discussions with customers about future potential assembly opportunities for our Graz facility.
We are 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.
We have approximately 83,000 employees in 235 manufacturing operations and 62 product development and engineering centres in 23 countries.
FORWARD-LOOKING STATEMENTS
--------------------------
This press release may contain statements that, to the extent that they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or economic performance, or the assumptions underlying any of the foregoing. We use words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, assumptions and uncertainties. These risks, assumptions and uncertainties include, but are not limited to, execution of definitive agreements, regulatory, court and shareholder approvals and satisfaction of closing conditions relating to the proposed transaction involving Magna, the Stronach Trust and Russian Machines, as well as the impact of: declining production volumes and changes in consumer demand for vehicles; a reduction in the production volumes of certain vehicles, such as certain light trucks; the termination or non-renewal of our customers of any material contracts; our ability to offset increases in the cost of commodities, such as steel and resins, as well as energy prices; fluctuations in relative currency values; our ability to offset price concessions demanded by our customers; our dependence on outsourcing by our customers; our ability to compete with suppliers with operations in low cost countries; changes in our mix of earnings between jurisdictions with lower tax rates and those with higher tax rates, as well as our ability to fully benefit tax losses; other potential tax exposures; the financial distress of some of our suppliers and customers; the inability of our customers to meet their financial obligations to us; our ability to fully recover pre-production expenses; warranty and recall costs; product liability claims in excess of our insurance coverage; expenses related to the restructuring and rationalization of some of our operations; impairment charges; our ability to successfully identify, complete and integrate acquisitions; risks associated with new program launches; legal claims against us; risks of conducting business in foreign countries; unionization activities at our facilities; work stoppages and labour relations disputes; changes in laws and governmental regulations; costs associated with compliance with environmental laws and regulations; potential conflicts of interest involving our controlling shareholder, the Stronach Trust; and other factors set out in our Annual Information Form filed with securities commissions in Canada and our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings. In evaluating forward-looking statements, readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.
Source: Magna International Inc.
