Car Chute

AVL to Acquire NTC Powertrain

PR Newswire — August 31, 2010

GRAZ, Austria, September 1, 2010 /PRNewswire/ — AVL Holding GmbH announced that it has signed a letter of intent to acquire NTC Powertrain Australia, USA and UK. NTC has vast experience in the development of transmissions for the high volume passenger car market and will form a key part of the AVL Passenger Car Transmission division. Helmut List, CEO of AVL List: “The depth of experience, resources and capabilities of the combined AVL and NTC powertrain teams will further leverage advanced technology solutions for customers worldwide and will assist AVL to significantly expand the range of services provided to the global automotive market.”

NTC Powertrain CEO Mr Richard Tamba stated “AVL and NTC share a common goal to bring high technology reliable designs to our customers with a focus on customer satisfaction and on time delivery of projects. Together AVL and NTC form the largest independent powertrain technology provider offering full technology solutions from analysis, through concept, design, testing and production implementation. NTC is honoured to have been invited to be part of the AVL family and we can now offer our combined services from facilities worldwide.”

NTC Powertrain is best recognised for the role it played in the core development of Borg Warner’s DualTronic technology and the design of the VW DQ250 during a 12 year exclusive retainer agreement that expired in February of this year. NTC has developed more than 12 DCT’s and 5 Automatics that are currently in various stages of high volume production. NTC are also a provider of powertrain design and development services to the marine, military and mining industries. NTC will continue to operate from all of its current facilities and will be looking to further strengthen its team of experienced engineers.

AVL is the world’s largest independent company for development, simulation and testing technology of powertrains (hybrid, combustion engines, transmission, electric drive, batteries and software) for passenger cars, trucks and large engines. The high-tech company AVL employs 4,300 people worldwide. Turnover in 2009 was 600 million Euro.

Contact

Michael Ksela, company spokesman for AVL, phone +43-1-523-4088, e-mail: michael.ksela@scoopnextlevel.com

Subject Codes: PC/t.100831190115080, PR/dest.Public, PT/lang.en, IN/AUT, IN/TRN, IN/RIT, IN/TRT, SU/ACC, RE/Austria

Magna Plan of Arrangement Completed

PR Newswire — August 31, 2010

AURORA, Canada, August 31, 2010 /PRNewswire/ — Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that the plan of arrangement to eliminate Magna’s dual-class share structure has been completed. Magna’s common shares will commence trading under the symbol ‘MG’ on the Toronto Stock Exchange at the start of trading on September 1, 2010.

About Magna

We are the most diversified global automotive supplier. We design, develop and manufacture technologically advanced systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

We have approximately 76,000 employees in 242 manufacturing operations and 76 product development, engineering and sales centres in 25 countries.

Contact

For further information, please contact Vince Galifi, Executive Vice-President and Chief Financial Officer at 905-726-7100 or Louis Tonelli, Vice-President, Investor Relations at 905-726-7035.

Subject Codes: PC/t.100831162914382, PR/dest.Public, PT/lang.en, PC/ticker, PC/ticker.bloomberg, PC/ticker.isin, PC/ticker.rics, IN/AUT, IN/FIN, RE/Canada

Company Codes: NYSE:MGA, Toronto:MG.A, Bloomberg:MGA@UN, RICS:MGA.N, ISIN:CA5592224011

Fallbrook Technologies Inc. Announces Availability of the N360 Version of its NuVinci(R) Continuously Variable Bicycle Transmission

- The next generation of the award-winning NuVinci(R) drivetrain is over 30% lighter and 17% smaller with enhanced shifting. Bicycle OEMs are including it on more new models. -

PR Newswire — August 31, 2010

FRIEDRICHSHAFEN, Germany, August 31, 2010 /PRNewswire/ — EUROBIKE 2010 — Fallbrook Technologies Inc. (Fallbrook), announced today the availability of its N360 bicycle drivetrain utilizing NuVinci(R) Technology. The N360 is the next generation of Fallbrook’s award-winning Continuously Variable Planetary (CVP) transmission for bicycles. The NuVinci CVP is a significant “shift” in drivetrain technology, transmitting mechanical power with spheres instead of gears. With an unlimited number of ratios available within its nominal 360% ratio range, the NuVinci CVP is a highly attractive replacement for bicycle derailleurs and internally geared hubs as it provides a ride and shifting experience unlike any other.

Compared to the NuVinci bicycle drivetrain launched in 2007, the N360 model has an increased ratio of 360%, is over 30% lighter and is 17% smaller. Shift effort is significantly reduced even under high pedal forces and there is 50% less twist rotation required to move between the lowest and highest ratios. In addition, for better protection, the hub interface is now housed inboard of the frame drop-out.

“The original NuVinci bicycle CVP introduced a totally new cycling experience – very easy shifting,” said Jack Brandsen, Fallbrook’s Director of European Marketing and Sales. “The typical reactions after the first ride were: ‘It’s so smooth! or it’s so easy!’ However, bicycle manufacturers told us they would put it on more models if we could make the drivetrain lighter and smaller. We listened to the market and the N360 is the result. It’s now being offered on many additional bicycle models including a number of e-Bikes.”

The Gepida Reptila, Mosquito Classis Energy, Raleigh Dover 360, and Victoria NuVinci are some examples of new e-Bikes that will offer the N360 drivetrain. “The N360′s ease of shifting is particularly beneficial for e-Bikes,” said Alan M. Nordin, Fallbrook’s Bicycle Division President. “e-Bike riders will shift more and that can result in less battery drain when starting up or going up a hill, which in turn equates to increased battery range.” Examples of new European bike models with the N360 include the Batavus Venturo, Panther TR999 Gepard-N and Simpel Wegwarts and new North American N360 bike models include the Breezer Uptown Infinity, Ellsworth Enlightenment, and Organic Edwin.

For bike dealers looking to upgrade existing bicycles, an N360 aftermarket conversion kit is also available. Bicycle dealers in Europe will be able to order it directly on the NuVinci website, http://www.nuvinci.com where there is also a list of aftermarket kit distributors for other parts of the world.

About Fallbrook Technologies Inc.

Fallbrook Technologies Inc. is a technology and manufacturing company dedicated to improving the performance and flexibility of transmissions for vehicles and equipment. Fallbrook’s NuVinci(R) continuously variable planetary (CVP) technology is applicable to virtually any machines that use a transmission such as bicycles, light electric vehicles, automobiles, agricultural equipment, and wind turbines, among others. The NuVinci CVP uses a set of rotating and tilting balls positioned between the input and output components of a transmission. Tilting the balls changes their contact diameters and varies the speed ratio.

The NuVinci platform offers companies the flexibility to design and produce next-generation products that are better tailored to their unique business, market and competitive requirements. Fallbrook has built an extensive portfolio of over 350 patents and patent applications worldwide.

To learn more about Fallbrook and its NuVinci technology, please visit http://www.fallbrooktech.com.

Subject Codes: PC/t.100831150115303, PR/dest.Public, PT/lang.en, IN/AUT, IN/ENT, IN/TRN, SU/PDT, SU/TDS, RE/Western_Europe, RE/Scandinavia

Magna Plan of Arrangement to be Implemented

PR Newswire — August 31, 2010

AURORA, Canada, August 31, 2010 /PRNewswire/ — Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that, after the close of markets on August 30, 2010, the Ontario Divisional Court dismissed the appeal of certain dissident minority shareholders of Magna and upheld the decision of the Ontario Superior Court approving the previously announced plan of arrangement to eliminate Magna’s dual-class share structure. The decision of the Divisional Court followed a hearing held on August 26, 2010.

As Magna has been notified that the dissident shareholders do not intend to appeal the Divisional Court’s decision, Magna expects to implement the arrangement later today. Upon closing, Magna’s Class A Subordinate Voting Shares will be redesignated as ‘common shares’. Magna’s common shares will trade under the symbol ‘MG’ on the Toronto Stock Exchange and will continue to trade under the symbol ‘MGA’ on the New York Stock Exchange.

“We are very pleased with the Court’s decision and that we are finally in a position to close the arrangement, which has received strong support from Magna’s shareholders,” said Vince Galifi, Executive Vice-President and Chief Financial Officer. “With the transaction completed, we can refocus on pursuing our long-term growth strategy, including further investments in both innovation and emerging markets, in order to continue to serve our customers around the world.”

About Magna

We are the most diversified global automotive supplier. We design, develop and manufacture technologically advanced systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

We have approximately 76,000 employees in 242 manufacturing operations and 76 product development, engineering and sales centres in 25 countries.

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Quinn Insurance: Car Maintenance Advice

PR Newswire — August 31, 2010

LONDON, August 31, 2010 /PRNewswire/ — Keeping a car on the road is expensive business. As well as giving you a great deal on your car insurance (http://www.quinn-direct.co.uk/) the kind folks at Quinn have provided us with some great tips for keeping your car in tip top condition.

Basically, keeping your car in good working order makes a lot of sense. There are always plenty of people who’ve been stung for expensive repairs when insurance & MOT time rolls around every year. A fair amount of this work can be avoided by taking care of your vehicle.

Here’s the good news: you don’t have to have the skills of Lewis Hamilton’s chief mechanic to keep your motor running smoothly. So with this in mind, Quinn Direct – a specialist provider of car insurance for young people (http://www.quinn-direct.com/car-insurance/young-driver.html), have created this guide to car maintenance for you to check out:

Tyre Pressures

Always check your tyre pressures every few week or so. Under inflated tyres will make you car’s handling worse, just like deflated tyres on a bicycle. Keeping the pressures checked and in line with the manufacturer’s recommendations will prolong the life of your tyres. It will also help you save fuel. Refer to your cars handbook for the required pressures for your tyres.

Tread Depth

In addition to checking the pressure of your tyres, do pay attention to their tread depth. The minimum legal requirement for tread depth is 1.6mm. If your tyres become worn down, they can skid – especially dangerous in the wet. So if this does happen, you can safely assume that your tyres are reaching the end of their life, and it is time to replace them.

Oil Levels

It is advised to check your oil once a month. Make sure that the car has been stationary with the engine switched off for at least five minutes. With the bonnet open, locate the dipstick, which is usually a bright colour for ease of recognition. Pull it out of its tube and wipe the oil off with an old cloth. Find the oil level marks on the end of the stick.

Slowly push the stick back in the tube and pull out again. Check the oil level; ideally it should be between the upper and lower marks. If it is nearing the lower mark then you should top it up with the correct engine oil for your model of car. Do this by replacing the dipstick and opening the filler cap (often found on the top of the engine). Pour some oil in and wait a few seconds for it to drain down to the bottom of the engine, and then re-check the level. Be careful not to overfill as this can cause leaks.

Brake Fluid

Check to see if your brake fluid is at the right level (your dashboard will have a check light), however do not attempt to top it up yourself. Leave this job to the mechanic when you take it for a service.

Coolants

Top up your water levels in order to stop overheating. In the winter it is also advisable to have an anti-freeze agent in the water to stop the car from freezing up.

Windscreen Wipers

Depending on how often you use them, the wipers should be changed once or twice a year. Refer to your handbook on what replacement wiper you will need (this will save you money).

Bodywork

Check your bodywork for any damage and try to get it fixed as soon as possible. If you don’t, then rust will set in. Invest in touch-up paint for small nicks and scratches that may occur.

Servicing

It is important that you get your car served by a professional mechanic every six months or so. This will allow the mechanic to check for damage to the engine and radiators etc, and he can then replace worn out parts on your vehicle. Brake pads wear out and can lose their stopping power, so these will be one of the things that will be checked and replaced as part of the service. Air filters will also need changing every 6,000 miles and the mechanic can do that for you too.

So there you have it, a quick guide to keeping your car in good condition. If you follow these straightforward guidelines, you can cut down on the amount of money you have paid out in repairs. Plus, your car will be more of a joy to drive! For more car money saving tips visit Quinn Insurance today.

Contact: Carrie Greene, +44(0)117-930-8800 and Carrie.Greene@weare2020.com

Subject Codes: PC/t.100831111608636, PR/dest.Public, PT/lang.en, IN/AUT, IN/INS, SU/SVY, RE/United_Kingdom

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Magna Plan of Arrangement to be Implemented

PR Newswire — August 31, 2010

AURORA, Canada, August 31, 2010 /PRNewswire/ — Magna International Inc. (TSX: MG.A, NYSE: MGA) today announced that, after the close of markets on August 30, 2010, the Ontario Divisional Court dismissed the appeal of certain dissident minority shareholders of Magna and upheld the decision of the Ontario Superior Court approving the previously announced plan of arrangement to eliminate Magna’s dual-class share structure. The decision of the Divisional Court followed a hearing held on August 26, 2010.

As Magna has been notified that the dissident shareholders do not intend to appeal the Divisional Court’s decision, Magna expects to implement the arrangement later today. Upon closing, Magna’s Class A Subordinate Voting Shares will be redesignated as ‘common shares’. Magna’s common shares will trade under the symbol ‘MG’ on the Toronto Stock Exchange and will continue to trade under the symbol ‘MGA’ on the New York Stock Exchange.

“We are very pleased with the Court’s decision and that we are finally in a position to close the arrangement, which has received strong support from Magna’s shareholders,” said Vince Galifi, Executive Vice-President and Chief Financial Officer. “With the transaction completed, we can refocus on pursuing our long-term growth strategy, including further investments in both innovation and emerging markets, in order to continue to serve our customers around the world.”

About Magna

We are the most diversified global automotive supplier. We design, develop and manufacture technologically advanced systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Our capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; hybrid and electric vehicles/systems as well as complete vehicle engineering and assembly.

We have approximately 76,000 employees in 242 manufacturing operations and 76 product development, engineering and sales centres in 25 countries.

FORWARD LOOKING STATEMENTS