Sales decreased 13% to $7.9 billion, reflecting a global light vehicle production decrease of 12%, including decreases of 20% in Europe, 19% in North America and 12% in China Diluted earnings per share and adjusted diluted earnings per share of $0.04 and $0.56, respectively, compared to $1.35 and $1.95 last year Results negatively impacted by… Continue reading Magna Announces Third Quarter 2021 Results
Author: Magna International Official News
Magna Secures Additional Business For Freeform™ Seat Trim Technology
Sculpted, seamless styling surface with endless design possibilities Launching on four new vehicles Differentiation in the evolving mobility landscape AURORA, Ontario, Nov. 04, 2021 (GLOBE NEWSWIRE) — Automakers are increasingly distinguishing themselves through styling and Magna’s FreeForm™ seating technology is just the answer. Launching on four new vehicles, one later this year and three in… Continue reading Magna Secures Additional Business For Freeform™ Seat Trim Technology
Magna Updates 2021 Outlook
AURORA, Ontario, Oct. 20, 2021 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it has updated its 2021 outlook to reflect declines in anticipated 2021 light vehicle production, including 7% and 9% in North America and Europe, respectively, in each case relative to expected light vehicle production levels disclosed in… Continue reading Magna Updates 2021 Outlook
Q3-2021 Results Conference Call
AURORA, Ontario, Oct. 05, 2021 (GLOBE NEWSWIRE) — Magna International Inc. (TSX:MG) (NYSE:MGA) Q3-2021 RESULTS CONFERENCE CALL FRIDAY – NOVEMBER 5, 2021 8:00 AM ET DIAL IN NUMBERS North America: 1-800-926-9175 International: 1-416-641-6701 Webcast: www.magna.com Slide presentation will be available on our website prior to the call. REBROADCAST INFORMATION Replay available 2 hours… Continue reading Q3-2021 Results Conference Call
Magna And Veoneer Announce Expiration Of Hart-Scott-Rodino Waiting Period
Companies File for Regulatory Approvals in the European Union and China AURORA, Ontario, Sept. 20, 2021 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) and Veoneer, Inc. today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, or HSR Act, in connection with the previously announced acquisition… Continue reading Magna And Veoneer Announce Expiration Of Hart-Scott-Rodino Waiting Period
Magna Mezzo™ Panel Modernizing the Face of Electric Vehicles
Large front panel integrates ADAS sensors and lighting Features hidden-until-lit functionality Enables design distinction for front ends AURORA, Ontario, Aug. 18, 2021 (GLOBE NEWSWIRE) — Magna is reimagining the face and functionality of electric vehicle front ends with its new Mezzo Panel technology. The… Continue reading Magna Mezzo™ Panel Modernizing the Face of Electric Vehicles
Magna Announces Second Quarter 2021 Results
Sales more than doubled to $9.0 billion, reflecting global light vehicle production increase of 58% Diluted earnings per share and adjusted diluted earnings per share of $1.40, compared to losses of $2.17 and $1.71 last year, respectively Reduced outlook, largely reflecting reduction in expected global light vehicle production due to continued industry semiconductor chip shortage… Continue reading Magna Announces Second Quarter 2021 Results
LG and Magna Sign Joint Venture Agreement and Announce Leadership Team
SEOUL, South Korea and AURORA, Ontario, July 28, 2021 (GLOBE NEWSWIRE) — LG Electronics (LG) and Magna International Inc. (Magna) today signed the transaction agreement which establishes a joint venture between the two companies. The new company, to be called LG Magna e-Powertrain, is headquartered in Incheon, South Korea and will be led by a… Continue reading LG and Magna Sign Joint Venture Agreement and Announce Leadership Team
Magna to Acquire Veoneer, Positioning Magna’s ADAS Business as a Global Leader in a Fast-Growing Industry
Veoneer’s complementary products and capabilities strengthen and broaden Magna’s ADAS portfolio and industry position Transaction adds significant engineering and software expertise, including in sensor perception and drive policy software Enhances Magna’s ADAS systems capabilities and feature functionality AURORA, Ontario and STOCKHOLM, Sweden, July 22, 2021 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA)… Continue reading Magna to Acquire Veoneer, Positioning Magna’s ADAS Business as a Global Leader in a Fast-Growing Industry
Magna Ignites Vehicle Design With Surface Element Lighting Technology
New animated lighting technology opens the door for more expressive design First-to-market technology debuted on the all-new 2021 Volkswagen ID.4 Enables customizable 3D styling opportunities in a thin package AURORA, Ontario, June 07, 2021 (GLOBE NEWSWIRE) — Magna is pushing vehicle design possibilities with its new innovative Surface Element Lighting technology which offers a new… Continue reading Magna Ignites Vehicle Design With Surface Element Lighting Technology