Magna Steyr is best known for producing vehicles for other manufacturers, but it also has thriving contract engineering and sheet-metal stamping operations. Magna Steyr is wholly owned by Magna International Inc., of Aurora, Ontario.
Magna International ranks No. 3 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $19.94 billion in 2004. Magna Steyr represents almost one-third of Magna International's business. Driven by a surge in contract production, its 2004 revenues of $6.2 billion were more than double the $2.7 billion of 2003. Last year's earnings of 170 million euros before interest and tax, about $210.9 million at current exchange rates, were quadruple those of 2003. Magna Steyr's main business is contract manufacturing. The Graz, Austria, complex builds 1,000 units a day of seven models using six body shops, two paint shops and five final assembly lines. It employs 9,000 people. The complex includes two adjacent assembly plants. The oldest plant began making bicycles in 1901 and cars in 1906 as Steyr-Daimler-Puch AG. Magna Steyr bought it in 1998. Today it produces the Chrysler Voyager/Grand Voyager, 300C sedan and Touring; Jeep Grand Cherokee; Mercedes-Benz E-class 4matic and G class; and Saab 9-3 convertible. The Jeep Commander also will be built here. The newest plant is the former Eurostar plant built in 1992 by the former Chrysler Corp. in a joint venture with Steyr-Daimler-Puch. In 1998, DaimlerChrysler bought the 50 percent owned by Steyr-Daimler-Puch. In 2002, Magna Steyr - the name was changed in 2001 - bought back 100 percent of the Eurostar plant from DaimlerChrysler. That plant is fully dedicated to BMW X3 production. Magna Steyr's second business is contract engineering, which employs 2,300 people in 10 locations: three in Austria, three in Germany and one each in France, Hungary, India and the United States. The largest engineering center is in the Graz complex and employs 1,000 people. Magna Steyr says it completely engineered the 9-3 cabriolet, G class, BMW X3 and Audi TT coupe and roadster. It also performed engineering projects for Alfa Romeo, Audi, Iveco, Lancia, Lincoln, Pontiac, Smart and VW - from adding a body derivative to creating a four-wheel-drive version. Magna Steyr's third area of activity is body-part stamping and subassemblies. A plant in Albersdorf, Austria, operates for vehicles built in Graz and other carmakers. This unit also builds the complete body-in-white for the Smart ForTwo near Smart's plant in Hambach, France.
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