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The Porsche Cayman is a mid-engined, rear wheel drive 2-seat sports car produced by Porsche AG of Germany. First launched in the 2006 model year, the Cayman is a coupé derived from Porsche's second generation Boxster convertible. Like the Boxster, most Caymans are assembled in Finland for Porsche by Valmet Automotive (the rest are assembled in Zuffenhausen near Stuttgart, Germany). Porsche's Deputy Chairman, Holger P. Haerter confirmed that their contract with Valmet Automotive will end in 2012, and the Cayman's production will be outsourced to Magna Steyr Fahrzeugtechnik of Graz, Austria.