38:
182:
29:
395:, and its chief executive officer is Swamy Kotagiri. It has 158,000 employees in 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries. Magna is governed under a corporate constitution which calls for distribution of profits to employees and shareholders. The terms of this contract are a "fair enterprise system" according to company founder
430:, US, which were not a federal requirement at the time. It was one of the first to develop rearview cameras for automakers, and had a 350,000 unit contract by 2007. The company has produced more than 46 million components and opened a $ 66.5 million plant to produce cameras and driver-assistance components.
687:
to produce electric cars on a contract basis. The company is also known for using new materials for "lightweighting" vehicles. In 2017 Goldman Sachs has reported that automated features developed by suppliers such as Magna will produce a 42 percent compound annual growth rate in global revenue over
613:
In 2018, the company acquired
Haptronik GmbH, a German motion control software developer, OLSA S.p.A., an Italian automotive lighting manufacturer, and Viza Geca SL, a Spanish automotive seating company. It partnered with Innoviz Technologies to produce solid-state lidar for autonomous vehicles for
418:
The company developed an employee equity participation and profit-sharing program in 1974. By 1981, Magna had sold its aerospace and defence operations to focus on the automotive industry. It began decentralizing major systems into independent, publicly traded companies during the 1990s, while
414:
By the late 1960s, the company was operating in eight plants. Stronach took
Multimatic Investments public in 1969 through a merger with Magna Electronics Corporation, an aerospace, defence and industrial components company, and became known as Magna International in 1973.
671:
During its history, Magna
International has worked with automakers to advance vehicle safety and technology such as smart mobility seating systems including stow-into-floor minivan seats, exterior systems including reaction injection moulding (RIM) bumpers,
527:
Magna is governed under a corporate constitution, and requires consensus from management, shareholders and employees to make any changes. The company shares 10 percent of pretax profits with its employees. As of 2019, the company has 158,000 employees.
458:. The company invested $ 200 million into the project and both parties will jointly own the intellectual property developed. It was also noted that Magna will be Lyft's exclusive supplier of self-driving kits. Magna announced a partnership with
446:
in August 2015. The sale to Grupo
Antolin included 36 plants and 12,000 employees in Europe, North America and Asia, about 10 percent of the Magna's global workforce at the time. The operations generated sales of $ 2.4 billion in 2014.
441:
after joining in a 2015 Series B funding round to access the company's security technology. The company sold its interiors business, which includes door and instrument panels, overhead systems and cargo management parts, to
1335:
1143:
1235:
1179:
570:(IPO) in 1995), Decoma International Inc. (IPO in 1997) and Intier Automotive Inc. (IPO in 2001). Magna made offers to the boards of the three companies, with an expected total cost to Magna of
1301:
971:
1522:
462:
in June 2018 to develop "next-generation" smart electric vehicles for
Chinese consumers. Walker retired as CEO at the end of 2020, with Swamy Kotagiri replacing him in January 2021.
1579:
1017:
2165:
610:, which was one of the largest suppliers of automotive transmissions worldwide for $ 1.9 billion. The acquisition worked to increase growth potential in the Chinese market.
1404:
1324:
883:
1136:
1051:
921:
814:
683:. In 2018, it introduced an Icon radar system to help automakers reach Level 5 autonomy as well as automatic emergency braking systems. Magna has partnered with BMW on
676:(ADAS), blind-spot detection and lane departure warning systems. The company is the largest automobile parts supplier in North America and the third largest worldwide.
1454:
1267:
1224:
2180:
2170:
2175:
512:, and has 342 manufacturing operations and 91 product development, engineering and sales centres in 27 countries. Its United States operations are headed out of
1561:
1167:
1006:
1382:
1543:
1289:
2150:
1030:
961:
2160:
761:
713:
2000:
1091:
588:
the companies within Magna
International. The three privatizations were completed in February (Tesma and Decoma) and April (Intier) of 2005.
1497:
1077:
844:
995:
559:, in September 2004, and combined it into Magna Powertrain. It assumed full ownership in 2007, closing the operation in August 2012.
465:
In
February 2021, the office of the governor of the state of Michigan announced that Magna plans to open a facility in the city of
411:
rented garage out of
Toronto. Its first automotive industry contract for metal sun visor brackets was with General Motors in 1959.
338:
1118:
352:
list for 20 years in a row since 2001. It produces automotive systems, assemblies, modules, and components, which are supplied to
2145:
2135:
1648:
1393:
826:
910:
331:
is a
Canadian parts manufacturer for automakers. It is one of the largest companies in Canada and was recognized on the 2020
1446:
1257:
1415:
536:
In 2002, Magna
International announced that it had reached an agreement with DaimlerChrysler to acquire its Austrian-based
485:. The new facility is expected to cost $ 70 million and to create over 300 jobs for the state. An electric version of the
1737:
1717:
199:
636:
As of 2024, Magna International consists of seven groups, which hold further corporate subsidiaries and subdivisions:
1993:
673:
1892:
566:
it had made of three divisions that it spun off as standalone companies in past years: Tesma International Inc. (
1597:
585:
1677:
1358:
1207:
714:
https://www.magna.com/docs/default-source/2024-news---press-releases/magna-2023-q4-pr.pdf?sfvrsn=86563d2c_1}
2130:
1986:
1722:
437:, an Austrian operating unit of Magna International, for $ 120 million. Magna International partnered with
1641:
1626:
1523:"Magna International Inc gears up for 42% revenue boom over the next decade as cars get more complicated"
1747:
552:
984:
772:
743:
2155:
2140:
2023:
1682:
592:
291:
1580:"Magna International Inc to build BMW's new hybrid as the world's only contract auto manufacturer"
862:
1967:
1867:
1493:
567:
62:
2125:
2050:
1802:
1782:
1712:
1634:
1180:"Canada's outstanding CEO of the year: Magna's Donald Walker leads auto parts maker to the top"
537:
70:
1427:
1018:
How Magna International Inc is looking to startups for the next big thing in the auto industry
1957:
1897:
1822:
797:
712:{{Cite web|title=Magna International Inc. (MGA)|website=Magna International Report 2023|url=
1902:
556:
438:
186:
8:
2099:
1917:
863:"Tesla could escape 'production hell' for its Model 3 — but it would require a huge leap"
466:
84:
1927:
1842:
1330:
1290:"Magna Pays $ 37 Million, Issues 2.85 Million Shares in Absorbing Decoma International"
1230:
966:
725:
408:
357:
349:
617:
Magna acquired Boston startup Optimus Ride and its >120 employees in January 2022.
1962:
1887:
1742:
1196:
596:
2078:
2038:
2028:
1882:
1847:
1752:
1692:
945:
Who Really Made Your Car?: Restructuring and Geographic Change in the Auto Industry
680:
646:
544:
521:
489:
450:
In March 2018, Magna announced they will work together with the ride-share company
341:
296:
253:
524:
was its chief executive officer and was working with Magna since 1987 until 2021.
2060:
1952:
1447:"Magna acquires tech, hires engineers of autonomous vehicle startup Optimus Ride"
1080:(Press release). Magna International. January 4, 2021 – via Globe Newswire.
916:
684:
572:
563:
517:
509:
486:
392:
123:
1687:
433:
In February 2015, Samsung SDI agreed to purchase the battery pack business from
2104:
2083:
1942:
1772:
1767:
1297:
513:
474:
455:
396:
353:
112:
48:
2119:
1932:
1817:
1762:
1757:
1702:
1657:
548:
443:
345:
56:
1119:"Brexit backer Jim Ratcliffe's Ineos to build electric Grenadier in Austria"
37:
1837:
1832:
1807:
1697:
1672:
1359:"Canadian auto parts maker Magna to buy Germany's Getrag for $ 1.9 billion"
1142:. Ontario Ministry of Government and Consumer Services. December 31, 2017.
369:
1656:
2055:
2045:
1812:
1405:
Magna International to buy lighting products maker Olsa for $ 267 million
1137:"Ontario Corporation Number 1982928 | Restated Articles of Incorporation"
657:
434:
385:
381:
301:
492:
is to be developed by Ineos and Magna, scheduled to enter production in
348:
by sales of original equipment parts; it has ranked consistently in the
1912:
1907:
459:
373:
283:
217:
1978:
1562:"Magna takes 'significant step' in enabling fully autonomous vehicles"
1325:"Intier approves takeover by Magna as it swallows last parts division"
66:
1937:
1862:
1787:
1544:"Magna International joins team developing automated driving systems"
621:
482:
562:
In October 2004, Magna announced its intention to unwind the legacy
74:
1877:
1857:
1797:
1262:
1225:"Magna reverses strategy, plans to take parts subsidiaries private"
1092:"Magna International to open facility, invest $ 70.1M in St. Clair"
815:
Magna International to open local plant at Rockmill Industrial Park
504:
Magna International Inc. (full name as certified under the Ontario
427:
361:
1007:
Samsung SDI to Acquire Magna International’s Battery Pack Business
942:
1922:
1872:
1777:
1732:
1707:
1468:
962:"Magna announces partnership to build electric vehicles in China"
625:
600:
478:
884:"Magna Continues to Expand in Morocco With New Mirrors Facility"
679:
It uses mobility technology to develop customized computing for
407:
In 1957, Frank Stronach founded Multimatic Investments Ltd in a
2033:
1827:
1727:
1598:"Magna To Share Its Vision Of Future Mobility At IAA Frankfurt"
1394:
Magna signs deal to acquire motion control specialist Haptronik
996:
Magna opens $ 50 million Michigan factory geared toward cameras
607:
470:
423:
377:
333:
129:
1383:
Magna International to Buy Getrag of Germany for $ 1.9 Billion
708:
706:
704:
702:
700:
1947:
1792:
1469:"Evertiq - Magna to acquire Veoneer's active safety business"
1197:
Magna International Unit to Buy Daimler's Eurostar Operations
235:
28:
473:
electric pickup. The battery enclosures will be produced at
1428:"BMW's self-driving cars of the future will have 3D vision"
1208:
New Process Gear stops production this week after 124 years
1052:"Magna to supply Lyft with kits to make self-driving autos"
697:
493:
451:
1031:"Grupo Antolin completes purchase of Magna interiors unit"
620:
In December 2022, it was announced Magna has acquired the
1168:
Magna International moving headquarters to King City, Ont
365:
315:
1619:
827:"Samsung Acquires Magna International's EV Battery-pack"
422:
Magna began designing automotive rearview cameras for
1416:
Magna agrees to buy Spanish auto seat maker Viza Geca
2166:
Companies based in the Regional Municipality of York
1323:
1223:
909:
1258:"Tesma shareholders vote for Magna privatization"
628:business from SSW Partners for US$ 1.52 billion.
454:to supply high-tech kits that turn vehicles into
2117:
878:
876:
2181:Multinational companies headquartered in Canada
2171:Companies listed on the New York Stock Exchange
2176:Companies listed on the Toronto Stock Exchange
606:In July 2015, Magna bought the German company
584:billion in 2023) in cash and Magna shares, to
1994:
1642:
943:Thomas H. Klier; James M. Rubenstein (2008).
873:
1217:
1215:
845:"Magna International: A Short SWOT Analysis"
903:
901:
899:
897:
2001:
1987:
1649:
1635:
1538:
1536:
36:
1212:
469:to build battery enclosures for the 2022
158:Tommy J. Skudutis, Executive VP & COO
2151:Automotive companies established in 1957
1517:
1515:
956:
954:
894:
762:"Automotive News Top 150 Suppliers 2014"
161:Vincent J. Galifi, Executive VP & CF
2008:
1533:
1444:
985:At Magna, the future focuses on cameras
907:
2161:Canadian companies established in 1957
2118:
1457:from the original on January 11, 2022.
1304:from the original on November 29, 2022
1238:from the original on December 11, 2021
1221:
924:from the original on September 5, 2019
911:"All's Fair (And All's Well) At Magna"
1982:
1630:
1512:
1445:Korosec, Kirsten (January 11, 2022).
1356:
1149:from the original on January 19, 2024
1116:
1110:
1028:
951:
736:
974:from the original on April 22, 2023.
718:
662:Mechatronics, Mirrors & Lighting
499:
1968:Wheaton Precious Metals Corporation
1078:"New Year Brings New CEO for Magna"
936:
13:
1738:Canadian Imperial Bank of Commerce
1733:Canadian Apartment Properties REIT
1718:Brookfield Infrastructure Partners
1500:from the original on April 5, 2024
674:advanced driver assistance systems
426:in 2005 on its production line in
14:
2192:
1611:
1222:Keenan, Greg (October 26, 2004).
908:English, Bob (December 1, 1998).
516:with its European head office in
1338:from the original on May 7, 2024
1270:from the original on May 7, 2024
1117:Jolly, Jasper (April 17, 2023).
890:(Press release). April 23, 2019.
726:"Magna International Inc. (MGA)"
391:The company is headquartered in
337:Global 2000. The company is the
181:
180:
27:
1893:Restaurant Brands International
1678:Algonquin Power & Utilities
1590:
1572:
1554:
1486:
1461:
1438:
1420:
1409:
1398:
1387:
1376:
1350:
1316:
1282:
1250:
1201:
1190:
1172:
1161:
1129:
1084:
1070:
1044:
1029:Irwin, John (August 31, 2015).
1022:
1011:
1000:
989:
978:
681:fully automated driving systems
531:
2146:Auto parts suppliers of Canada
2136:1957 establishments in Ontario
855:
837:
819:
808:
790:
754:
1:
1357:Rocha, Euan (July 16, 2015).
691:
666:
1723:Brookfield Property Partners
16:Canadian automotive supplier
7:
96:; 67 years ago
10:
2197:
1748:Canadian Natural Resources
744:"#427 Magna International"
580:billion (equivalent to $ 2
402:
2092:
2071:
2016:
1668:
631:
506:Business Corporations Act
310:
282:
269:
251:
233:
215:
197:
176:
168:
146:
136:
118:
108:
90:
80:
54:
44:
35:
26:
2024:CTS Fahrzeug-Dachsysteme
1683:Alimentation Couche-Tard
593:CTS Fahrzeug-Dachsysteme
490:off-road utility vehicle
329:Magna International Inc.
292:CTS Fahrzeug-Dachsysteme
22:Magna International Inc.
1868:National Bank of Canada
1496:. Magna International.
568:initial public offering
2051:Eurostar Automobilwerk
1803:First Quantum Minerals
1783:Constellation Software
1713:Brookfield Corporation
543:Magna acquired 80% of
538:Eurostar Automobilwerk
508:) is headquartered in
1958:Toronto-Dominion Bank
1898:Rogers Communications
798:"Magna International"
626:Veoneer Active Safety
419:expanding into Asia.
1903:Royal Bank of Canada
1660:companies of Canada
1604:. September 2, 2019.
1300:. February 4, 2005.
1266:. February 1, 2005.
439:Argus Cyber Security
2131:Magna International
2100:Granite Real Estate
2010:Magna International
1918:Shaw Communications
1853:Magna International
1568:. January 15, 2018.
1550:. October 10, 2017.
1294:aftermarketnews.com
1098:. February 23, 2021
496:, Austria in 2026.
271:Number of employees
155:Swamy Kotagiri, CEO
23:
1928:Sun Life Financial
1843:Kirkland Lake Gold
1334:. March 31, 2005.
1331:The Globe and Mail
1231:The Globe and Mail
1096:Detroit Free Press
967:The Globe and Mail
603:in November 2005.
350:Fortune Global 500
21:
2113:
2112:
1976:
1975:
1963:Waste Connections
1888:Power Corporation
1743:Canadian National
1663:
1434:. April 30, 2018.
970:. June 18, 2018.
778:on April 26, 2012
688:the next decade.
643:Magna Electronics
500:Corporate affairs
456:self-driving cars
326:
325:
278:
265:
247:
229:
211:
193:
2188:
2079:Belinda Stronach
2039:New Venture Gear
2029:Magna Powertrain
2003:
1996:
1989:
1980:
1979:
1883:Pembina Pipeline
1848:Loblaw Companies
1753:Canadian Pacific
1693:Bank of Montreal
1661:
1651:
1644:
1637:
1628:
1627:
1623:
1622:
1620:Official website
1606:
1605:
1602:StartUs Magazine
1594:
1588:
1587:
1576:
1570:
1569:
1558:
1552:
1551:
1540:
1531:
1530:
1519:
1510:
1509:
1507:
1505:
1490:
1484:
1483:
1481:
1479:
1465:
1459:
1458:
1442:
1436:
1435:
1424:
1418:
1413:
1407:
1402:
1396:
1391:
1385:
1380:
1374:
1373:
1371:
1369:
1354:
1348:
1347:
1345:
1343:
1327:
1320:
1314:
1313:
1311:
1309:
1286:
1280:
1279:
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1275:
1254:
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1247:
1245:
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1227:
1219:
1210:
1205:
1199:
1194:
1188:
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1170:
1165:
1159:
1158:
1156:
1154:
1148:
1141:
1133:
1127:
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1114:
1108:
1107:
1105:
1103:
1088:
1082:
1081:
1074:
1068:
1067:
1065:
1063:
1058:. March 15, 2018
1048:
1042:
1041:
1039:
1037:
1026:
1020:
1015:
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1004:
998:
993:
987:
982:
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905:
892:
891:
880:
871:
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867:Business Insider
859:
853:
852:
841:
835:
834:
823:
817:
812:
806:
805:
794:
788:
787:
785:
783:
777:
771:. Archived from
766:
758:
752:
751:
740:
734:
733:
722:
716:
710:
647:Magna Powertrain
595:, a supplier of
591:Magna purchased
583:
579:
576:
564:public offerings
545:New Venture Gear
522:Donald J. Walker
388:, among others.
344:manufacturer in
342:automobile parts
322:
319:
317:
297:Magna Powertrain
276:
263:
261:
256:
245:
243:
238:
227:
225:
209:
207:
200:Operating income
191:
189:
184:
183:
104:
102:
97:
40:
31:
24:
20:
2196:
2195:
2191:
2190:
2189:
2187:
2186:
2185:
2156:Canadian brands
2141:Aurora, Ontario
2116:
2115:
2114:
2109:
2088:
2067:
2061:Magna MILA Plus
2012:
2007:
1977:
1972:
1953:Thomson Reuters
1664:
1662:(June 22, 2020)
1655:
1618:
1617:
1614:
1609:
1596:
1595:
1591:
1578:
1577:
1573:
1566:Automotive News
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1421:
1414:
1410:
1403:
1399:
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1355:
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1341:
1339:
1322:
1321:
1317:
1307:
1305:
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1273:
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1213:
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1202:
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1191:
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1173:
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1027:
1023:
1016:
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1005:
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983:
979:
960:
959:
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941:
937:
927:
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917:Automotive News
906:
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861:
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842:
838:
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813:
809:
796:
795:
791:
781:
779:
775:
764:
760:
759:
755:
742:
741:
737:
724:
723:
719:
711:
698:
694:
685:electrification
669:
651:Magna Exteriors
634:
624:-headquartered
581:
577:
571:
534:
518:Vienna, Austria
510:Aurora, Ontario
502:
487:Ineos Grenadier
405:
393:Aurora, Ontario
314:
306:
272:
262:13.234 billion
259:
252:
244:32.255 billion
241:
234:
223:
220:
208:1.606 billion
205:
202:
190:42.797 billion
185:
164:
149:
139:
132:
126:
124:Aurora, Ontario
100:
98:
95:
69:
59:
17:
12:
11:
5:
2194:
2184:
2183:
2178:
2173:
2168:
2163:
2158:
2153:
2148:
2143:
2138:
2133:
2128:
2126:S&P/TSX 60
2111:
2110:
2108:
2107:
2105:Stronach Group
2102:
2096:
2094:
2090:
2089:
2087:
2086:
2084:Frank Stronach
2081:
2075:
2073:
2069:
2068:
2066:
2065:
2064:
2063:
2058:
2053:
2043:
2042:
2041:
2036:
2026:
2020:
2018:
2014:
2013:
2006:
2005:
1998:
1991:
1983:
1974:
1973:
1971:
1970:
1965:
1960:
1955:
1950:
1945:
1940:
1935:
1930:
1925:
1920:
1915:
1910:
1905:
1900:
1895:
1890:
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1865:
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1855:
1850:
1845:
1840:
1835:
1830:
1825:
1820:
1815:
1810:
1805:
1800:
1795:
1790:
1785:
1780:
1775:
1773:Cenovus Energy
1770:
1768:CCL Industries
1765:
1760:
1755:
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1740:
1735:
1730:
1725:
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1715:
1710:
1705:
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1695:
1690:
1685:
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