Magna International Inc.
New York Stock ExchangeCapital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Company Description
- CEO
- Seetarama Kotagiri
- Full Time Employees
- 156,000
- Sector
- Consumer Cyclical
- Industry
- Auto - Parts
- Address
- 337 Magna Drive Aurora ON Canada L4G 7K1
- IPO Date
- Oct 5, 1984
- CIK
- 0000749098
- Website
- magna.com
- Similar Companies
- Business
- Magna International Inc. (NYSE: MGA; TSX: MG) manufactures and supplies automotive systems, assemblies, modules and components primarily to original equipment manufacturers of passenger cars and light trucks worldwide. The company operates through four main segments: Body Exteriors & Structures, offering body and chassis systems, exterior trims, modular systems, active aerodynamics and sealing products; Power & Vision, providing powertrain systems including drivelines, transmissions, electrified solutions and energy storage, alongside electronic systems such as ADAS radars, cameras and driver monitoring, mirrors, lighting and mechatronics; Seating Systems, encompassing complete seating with structures, mechanisms, foam and trim; and Complete Vehicles, delivering engineering and contract manufacturing services. Founded in 1957 by Frank Stronach and headquartered in Aurora, Ontario, Canada, Magna maintains 341 manufacturing operations and 88 engineering, development and sales centers across 28 countries on six continents, serving major OEMs including General Motors, Ford, BMW, Stellantis, Volkswagen and Daimler. Recent developments include the June 2023 completion of its $1.4 billion acquisition of Veoneer Active Safety to bolster ADAS capabilities in Power & Vision; the May 2024 acquisition of HE System Electronic GmbH for electronic systems; a 2024 strategic alliance with SKH in India for body and chassis operations; a $200 million expansion in Greenville County, South Carolina announced in late 2024 to create 200 jobs starting 2025; new facility openings in China for EV powertrains; ongoing LG Magna e-Powertrain joint venture expansions in Mexico and Hungary; and 2024 restructurings of over 40 divisions plus 64 Factory of the Future initiatives to enhance productivity.
Company News
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