Magna International

Magna CEO in a shopping mood in post-Stronach era

6:54 am U.S. ET | Aug. 19, 2014
Magna International, the largest auto supplier in North America, will consider purchases of as much as $4 billion as it distances itself from debt-averse founder Frank Stronach....
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Toyota makes stronger showing in J.D. Power seat quality study

2:25 pm U.S. ET | Aug. 18, 2014
Toyota made sizable gains in a JD Power seat quality study, with six of the 21 vehicles recognized for superior seating, two more than last year. Ford's C-Max also had a strikingly lower instance of seat-related problems than any other car in the study....
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Ford demonstrates Magna's seamless rear window on new F-150

4:04 pm U.S. ET | Aug. 13, 2014
Ford today demonstrated its “seamless sliding rear window” feature developed by Canadian supplier Magna International for the new 2015 Ford F-150 pickups....
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Magna Q2 profits rise 23% to $510 million on higher N.A., Europe output

6:53 am U.S. ET | Aug. 8, 2014
Auto supplier Magna International's second-quarter profits increased 23 percent to $510 million on higher vehicle output in North America and a continuing recovery in Europe. The company raised its full-year sales forecast to $35.6 billion to $37.3 billion from $34.9 billion to $36.6 billion....
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Magna points supply chain toward local sourcing

2:03 pm U.S. ET | Aug. 7, 2014
Canadian automotive supplier Magna International sees local strategy and efficiency improvements as key cost-saving measures within its supply chain....
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Magna Steyr hunts acquisitions that will add expertise

12:01 am U.S. ET | Aug. 4, 2014
To compete in the hotly contested market for engineering services, Austrian supplier Magna Steyr is heading in new directions. Karl-Friedrich Stracke, head of contract manufacturing and engineering at the unit of Magna International Inc., is betting on targeted acquisitions and growth in China....
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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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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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