Decoma shareholders approve privatization
2005年3月1日 - 2:14AM
PRニュース・ワイアー (英語)
Decoma shareholders approve privatization CONCORD, ON, Feb. 28
/PRNewswire-FirstCall/ -- Magna International Inc. (TSX:MG.SV.A,
MG.MV.B; NYSE:MGA) ("Magna") and Decoma International Inc.
(TSX:DEC.SV.A; NASDAQ:DECA) ("Decoma") today jointly announced that
Decoma's shareholders have approved the previously announced plan
of arrangement under Ontario law, by which Magna will acquire all
of the outstanding Class A Subordinate Voting Shares of Decoma not
owned by Magna. The arrangement was approved by over 99% of the
votes cast by holders of Decoma Class A Subordinate Voting Shares,
voting separately as a class. The arrangement was also approved by
over 95% of the votes cast by the "minority" holders of Decoma
Class A Subordinate Voting Shares. Votes cast by Magna, and parties
related to Magna, were excluded for the purposes of the "majority
of the minority" approval requirement. The privatization
transaction is expected to become effective on March 6, 2005,
subject to obtaining final court approval. Decoma designs,
engineers and manufactures automotive exterior components and
systems which include fascias (bumpers), front and rear end
modules, liftgates and running boards, plastic body panels,
exterior trim components, sealing and greenhouse systems and
lighting components for cars and light trucks (including sport
utility vehicles and mini-vans). Decoma has approximately 16,000
employees in 54 manufacturing, engineering and product development
facilities in Canada, the United States, Mexico, Germany, Belgium,
England, France, Austria, Poland, the Czech Republic and Japan.
Magna, the most diversified automotive supplier in the world,
designs, develops and manufactures automotive systems, assemblies,
modules and components, and engineers and assembles complete
vehicles, primarily for sale to original equipment manufacturers of
cars and light trucks in North America, Europe, Mexico, South
America and Asia. Magna's products include: automotive interior and
closure components, systems and modules through Intier Automotive
Inc.; metal body systems, components, assemblies and modules
through Cosma International; exterior and interior mirror and
engineered glass systems through Magna Donnelly; fascias, front and
rear end modules, plastic body panels, exterior trim components and
systems, greenhouse and sealing systems and lighting components
through Decoma International Inc.; various engine, transmission and
fueling systems and components through Tesma International Inc., a
variety of drivetrain components through Magna Drivetrain; and
complete vehicle engineering and assembly through Magna Steyr.
Magna has approximately 81,000 employees in 219 manufacturing
operations and 49 product development and engineering centres in 22
countries. For further information about Magna, please visit the
Company's website at http://www.magna.com/. For further information
about Decoma, please visit the Company's website at
http://www.decoma.com/. DATASOURCE: Decoma International Inc.
CONTACT: Vincent J. Galifi, Executive Vice-President and Chief
Financial Officer of Magna at (905) 726-7100, and S. Randall
Smallbone, Executive Vice-President, Finance and Chief Financial
Officer of Decoma at (905) 669-2888.
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