Magna International

Magna opens body, chassis plant in China's Chongqing

May 20, 2013 09:36 CET
Magna's Cosma unit has opened a plant in southwest China to supply body and chassis parts to automakers in the area including Ford Motor Co. and Volkswagen.... Read More »

 

Magna hikes full-year forecast on strong Q1 profit

May 13, 2013 06:01 CET
Magna International has hiked its full-year sales forecasts after posting a better-than-expected profit and a 9 percent rise in revenue in the first quarter.... Read More »

 

Magna stock hits record high as Q1 profits improve, forecast rises

9:56 am U.S. ET | May 10, 2013
Magna International shares hit a record high today as the Canadian supplier hiked its full-year sales forecasts after posting a better-than-expected profit and a 9 percent rise in revenue in the first quarter.... Read More »

 

Magna founder Stronach aims to reshape Austria's politics

April 29, 2013 06:01 CET
Frank Stronach, 80, has no interest in retiring after building Magna into a top supplier. He has launched anew political party, Team Stronach, in Austria.... Read More »

 

A modest retirement goal: Reshape Austria's politics

12:01 am U.S. ET | April 29, 2013
White-haired, tanned and vigorous at 80, Frank Stronach clearly has zero interest in retiring after building North America's biggest auto parts company. He now intends to jolt politics in his native Austria.... Read More »

 

Magna CEO Walker: Engineering expertise can help cut weight

April 19, 2013 06:01 CET
Magna International plans to use its expertise in body engineering to help automakers cut vehicle weight, CEO Don Walker says.... Read More »

 

THE SUPPLIER SPEAKS: DON WALKER, CEO, MAGNA INTERNATIONAL

Walker: Engineering know-how can help cut weight

12:01 am U.S. ET | April 15, 2013
Magna International Inc., with its expertise in body engineering, is well positioned to help automakers cut vehicle weight. At the same time, CEO Don Walker, 56, is catching up to other global suppliers in China and working to stay abreast of rising orders in North America.... Read More »

 

GM's Akerson meets Merkel as two sides bury past differences over Opel

April 11, 2013 18:04 CET
General Motors CEO Dan Akerson met with German Chancellor Angela Merkel to discuss the automaker's Opel unit as the two sides worked to move past a dispute over a failed effort to sell the division.... Read More »

 

Ex-Opel CEO Stracke will join Magna Steyr

March 12, 2013 17:06 CET
Former Opel CEO Karl-Friedrich Stracke will join Magna Steyr, a unit of Magna International, on April 1. Stracke will be responsible for contract manufacturing at Magna Steyr's plant in Graz, Austria, as well as the unit's head of global engineering, the company said.... Read More »

 

Magna raises its forecast for 2013 N.A. production by 500,000 units

5:31 am U.S. ET | March 1, 2013
North America's largest auto supplier today bumped its 2013 forecast for auto production on the continent by 500,000 vehicles to 15.8 million units. Canada's Magna International also upgraded its North American profit and revenue projections as auto sales continue to climb in the key U.S. market.... Read More »

 

AUTOMOTIVE NEWS WORLD CONGRESS

Race is on for the cheapest way to hit 54.5 mpg

12:01 am U.S. ET | Jan. 21, 2013
Finding low-cost technology solutions will be the key to meeting the federal 54.5 mpg fuel economy standard in 2025, said a panel of speakers from suppliers at the Automotive News World Congress.... Read More »

 

Magna expects emerging markets to boost 2013 sales

2:16 pm U.S. ET | Jan. 16, 2013
Diversified auto parts supplier Magna International forecast stronger 2013 sales and profit margins, reflecting gains from fast-growth markets such as China and Brazil.... Read More »

 

PRODUCTION LINE

3 compete to raise the roof

12:01 am U.S. ET | Nov. 19, 2012
After a round of bankruptcies and buyouts, the world of roof system suppliers has narrowed to three major players: Webasto Roof Systems, Magna Steyr and Valmet Automotive. With convertible production in Europe and North America stuck at recessionary levels, it is unclear whether all three can make much money in the segment.... Read More »

 

Is there enough business for three roof system suppliers?

11:00 am U.S. ET | Nov. 13, 2012
After a round of bankruptcies and buyouts, the world of roof system suppliers has narrowed to three major players: Webasto Roof Systems, Magna Steyr and Valmet Automotive. With convertible production in Europe and North America stuck at recessionary levels, it is unclear whether all three can make much money in this segment.... Read More »

 

Magna Q3 profit jumps; founder Stronach quits board

9:16 am U.S. ET | Nov. 8, 2012
Diversified Canadian auto supplier Magna International Inc. said third-quarter profit nearly quadrupled on gains related to its purchase of the minority stake in its electric car business. The company also said its founder Frank Stronach had stepped down from the board, effective immediately, to focus on activities outside the automotive industry.... Read More »

 

ANE EXECUTIVE EDITION

Bosch, Conti, other top 30 suppliers make gains in 2011 total Europe sales

Oct. 16, 2012 06:01 CET
Last year was very successful for the biggest suppliers to automakers in Europe. Overall, 2011 sales in Europe by suppliers in the top 30 increased 19 percent to $180.6 billion from $151.4 billion in 2010, according to Automotive News Europe data.... Read More »

 

Magna to produce sunroofs in Michigan

12:01 am U.S. ET | Oct. 9, 2012
Magna International Inc. plans to invest $10.1 million to develop and sell sunroofs.... Read More »

 

Ricardo Inc. names Magna vet Apostolos as president

4:39 pm U.S. ET | Oct. 5, 2012
Engineering consulting firm Ricardo has named longtime Magna executive Thomas Apostolos as its new president. Apostolos, 50, spent 19 years at Canadian supplier Magna International, most recently as president of Magna Exteriors and Interiors Asia Pacific.... Read More »

 

Magna to acquire German supplier Ixetic for $397 million

Oct. 2, 2012 06:01 CET
Canada's Magna International plans to buy Ixetic Verwaltungs GmbH, a German maker of automotive vacuum, engine and transmission pumps, for about 308 million euros ($397 million).... Read More »

 

Johnson Controls' joint venture shares top rank in seating quality survey, J.D. Power says

Aug. 17, 2012 06:01 CET
For the third year in a row, Avanzar Interior Technologies earned a top spot in the J.D. Power and Associates 2012 Seat Supplier Quality Rankings. Avanzar, a joint venture between Johnson Controls and SAT Auto Technologies, tied with TS Tech for the top rating, the firm reported Thursday.... Read More »

 

Johnson Controls' joint venture shares top rank in seating quality survey, J.D. Power says

4:15 pm U.S. ET | Aug. 16, 2012
For the third year in a row, Avanzar Interior Technologies earned a top spot in the JD Power and Associates 2012 Seat Supplier Quality Rankings. Avanzar, a joint venture between Johnson Controls and SAT Auto Technologies, tied with TS Tech for the top rating, the firm reported today.... Read More »

 

Magna posts 24% rise in profit, takes control of E-Car

6:31 pm U.S. ET | Aug. 9, 2012
Magna International reported a 24-percent jump in quarterly profit on Thursday and said it was buying the controlling, minority stake in its electric car business. The company's second-quarter earnings rose to $349 million compared with profit of $282 million in the same period last year.... Read More »

 

COMMENTARY

Should General Motors and Ford pull out of Europe?

June 25, 2012 06:01 CET
Do General Motors and Ford Motor still need to compete in Europe? Do they really need to keep building and selling cars in a market that has shifted from being low growth/low margin to no growth/no margin? Why continue losing money in Europe when China is forecast to become a 30 million unit-a-year market by 2020 and U.S. new-car sales are poised to return to 16 million a year much sooner than expected?... Read More »

 

EDWARD LAPHAM

Is 54.5 mpg just science fiction?

12:01 am U.S. ET | June 11, 2012
It's curious that no automaker is seriously opposing the proposed CAFE standard of 54.5 mpg by the 2025 model year, says Ted Robertson, Magna International's chief technical officer for the Americas. Why? "No one knows how to make that number. No one knows how to get there," Robertson says Edward Lapham is executive editor of Automotive News.... Read More »