Magna International

DAVID SEDGWICK

Pressure builds on suppliers to team up

12:01 am U.S. ET | July 21, 2014
If the ZF-TRW alliance is going to create a product portfolio for collision avoidance and driverless vehicles, the r&d budget will make or break it....
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Continental Structural Plastics to buy 5 plants from Magna

10:28 am U.S. ET | July 18, 2014
Continental Structural Plastics signed a definitive agreement to acquire five North American plants from Magna International....
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CARBON FIBER HEATS UP

Suppliers bet big, try new techniques to ramp up production

12:01 am U.S. ET | May 19, 2014
As major suppliers place big bets on carbon fiber, perhaps it's time to pay attention to this emerging technology....
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Stamping bottleneck squeezes boron-steel supply

12:01 am U.S. ET | May 19, 2014
Faced with increasingly tough federal collision standards, automakers are turning to boron steel -- which is six times stronger than conventional steel -- to reinforce the body-in-white without adding pounds....
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Magna denies being asked by Canada to end Russia JV

May 14, 2014 10:54 CET
Magna International CEO Donald Walker says he hasn't been asked to end a Russian joint venture amid mounting tension over Ukraine even as an executive from partner Avtotor cited pressure from Canada to do so....
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Magna expands Mexico powertrain operations for Audi AWD

April 30, 2014 06:01 CET
Magna International is expanding its powertrain operations in Mexico with a $75 million plant to produce all-wheel-drive systems for Audi....
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Magna expands Mexico powertrain operations for Audi AWD

1:32 pm U.S. ET | April 29, 2014
Canadian parts supplier Magna International is expanding its powertrain operations in Ramos Arizpe, Mexico, with a $75 million plant to produce all-wheel-drive systems for Audi....
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Magna will halt founder Stronach's compensation at end of 2014

April 8, 2014 11:10 CET
Canadian supplier Magna International paid $52 million in consulting fees to billionaire founder Frank Stronach in 2013, but the company is stressing that his compensation will stop at the end of this year....
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Magna says Stronach payouts end this year after $52 million in consulting fees in 2013

3:52 pm U.S. ET | April 7, 2014
Canadian auto supplier Magna International paid $52 million in consulting fees to billionaire founder Frank Stronach in 2013, but the company is stressing that his compensation will stop at the end of this year....
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Backup camera mandate boosts suppliers

8:09 am U.S. ET | April 5, 2014
The biggest beneficiary of the new federal mandate for rearview cameras is likely to be Magna International, which claims 40 percent of the North American market for the equipment. Other suppliers such as Delphi Automotive, Gentex, Panasonic and Valeo also are poised to profit....
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Magna's Q4 net income jumps 31%

12:51 pm U.S. ET | March 3, 2014
Magna International said its fourth-quarter profit jumped 31 percent, driven by a pickup in North America and Europe, and hiked its dividend. Net income attributable to the company rose to $458 million in the fourth quarter, from $351 million a year earlier, the company said in a statement....
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Magna forms Chinese joint venture to produce front-end modules

Feb. 18, 2014 12:47 CET
Magna has created a joint venture with Chongqing Guangneng Rongneng Trim to produce front-end modules for automakers in China....
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GM rolls back contentious terms in purchasing contract

8:00 am U.S. ET | Feb. 11, 2014
GM is rolling back controversial changes it made last year to its purchasing contract, including new terms that some suppliers believed exposed them to greater warranty liability. GM in July rolled out the biggest overhaul to its supplier contract framework in 20 years....
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Magna will grow, but not via PSA's Faurecia stake, CEO says

Nov. 22, 2013 11:11 CET
Magna International has the balance sheet and cash flow to support growth, but won't bid for PSA's stake in supplier Faurecia, said Don Walker, the company's CEO....
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PSA share sale hits snag as Dongfeng seeks smaller stake, report says

Nov. 20, 2013 16:34 CET
PSA/Peugeot-Citroen's plan to raise funds through a share sale have hit a snag as China's Dongfeng Motor seeks a smaller stake than first discussed, sources said....
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Magna profits fall on turnaround moves; sales rise as Europe outlook improves

8:44 am U.S. ET | Nov. 6, 2013
Canadian auto parts supplier Magna International said third quarter net income fell 18 percent to $319 million. The company cited $33 million in restructuring charges and said it expects about $94 million in restructuring costs during the second half of the year....
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Magna's quarterly sales rise nearly 13% as Europe business improves

Nov. 6, 2013 13:55 CET
Canadian supplier Magna, which has been working to turn around inefficient operations in Europe, reported a nearly 13 percent rise in quarterly sales as business in the region improved....
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Magna expects China sales to quadruple by 2020

Oct. 30, 2013 11:55 CET
Canadian supplier Magna aims to generate $4 billion (24.35 billion yuan) in sales in China by 2020, more than four times the revenue expected for this year....
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Magna founder Stronach to quit Austrian politics

Oct. 23, 2013 13:40 CET
Frank Stronach, who founded supplier Magna International, will retire from Austrian politics after scoring just 6 percent in national elections with his party last month....
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Magna, IAC, Faurecia part of German price-fixing probe

4:01 am U.S. ET | Sept. 25, 2013
German antitrust authorities searched the offices of Magna International, IAC Group, Faurecia, and three other automotive suppliers Tuesday....
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Magna, IAC, Faurecia part of German price-fixing probe

Sept. 25, 2013 10:01 CET
German antitrust authorities searched the offices of Magna International, IAC Group, Faurecia, Borgers, Autoneum and one other automotive supplier Tuesday. The companies are under investigation on suspicion of price fixing....
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Magna opens drivetrain parts plant in China

Sept. 2, 2013 08:34 CET
Magna has opened its sixth drivetrain component plant in China, in the northern city of Tianjin. The $68 million (419 million yuan) factory will employ 400 people at full production, the supplier said....
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AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Partsmakers take a hit

Aug. 15, 2013 06:01 CET
Europe's top partsmakers had a tough 2012. Overall European sales by suppliers in the top 30 ranking fell by...
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Magna posts 19% gain in profit, raises sales forecast on Europe recovery

Aug. 12, 2013 06:01 CET
Magna reported a 19 percent rise in second-quarter profit and lifted its 2013 sales forecast, buoyed by better-than-expected European and North American earnings....
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Magna posts 19% gain in profit, raises sales forecast

6:27 am U.S. ET | Aug. 9, 2013
Canadian auto parts maker Magna International reported a 19 percent rise in second-quarter profit and lifted its sales forecast for the year, buoyed by increased vehicle production in North America....
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