North American finalist Zehao Zhang from ArtCenter College of Design captures top prizeFinalists from China and Europe also recognized at LA Auto ShowMore than 100 entries offer global view of future mobilityAURORA, Ontario, Nov. 20, 2019 (GLOBE NEWSWIRE) — Imagination soared as students from around the world competed for the first-ever Magna Global Bold Perspective… Continue reading Magna’s Inaugural Global Bold Perspective Award Recognizes Inspiring Design of Future Mobility
Author: Magna International Official News
Magna to Acquire Wipac Czech s.r.o., Expand Lighting Capabilities
Acquisition to strengthen engineering and electronics competenciesWill increase Magna’s forward lighting engineering capability in EuropeA complement to the 2018 acquisition of OLSA S.p.A.AURORA, Ontario, Nov. 20, 2019 (GLOBE NEWSWIRE) — Magna has agreed to acquire Wipac Czech s.r.o., a premium automotive lighting engineering firm located in Ostrava, Czech Republic. The transaction – Magna’s second lighting… Continue reading Magna to Acquire Wipac Czech s.r.o., Expand Lighting Capabilities
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
AURORA, Ontario, Nov. 12, 2019 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange (“TSX”) had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the “Notice”). Pursuant to the Notice, Magna may purchase up to 30,283,500 Magna Common Shares (the “Bid”), representing approximately… Continue reading TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
Magna Announces Third Quarter Results
Sales of $9.3 billion decreased 3%, compared to global light vehicle production down 3% º Labour strike at General Motors (“GM strike”) reduced third quarter salesExcluding foreign currency translation and divestitures net of acquisitions, sales up 2%Returned $451 million to shareholders through share repurchases and dividends2019 Outlook reduced largely to reflect estimated impact of… Continue reading Magna Announces Third Quarter Results
Magna Celebrates Opening of New Electronics Facility
State-of-the-art manufacturing facility in Grand Blanc Township, MichiganSolidifies leadership in vision-based driver assistance systemsDivision has made more than 46 million ADAS components since 2005TROY, Mich., Aug. 14, 2019 (GLOBE NEWSWIRE) — Magna celebrated the opening of a new electronics manufacturing facility today in Grand Blanc Township, Michigan. The facility consolidates three nearby locations into a… Continue reading Magna Celebrates Opening of New Electronics Facility
Magna Announces Second Quarter Results
Sales of $10.1 billion decreased 1%, compared to global light vehicle production down 6%Excluding foreign currency translation and divestitures net of acquisitions, sales up 5% with each segment outpacing global light vehicle productionCash provided from operating activities of $920 millionReturned $519 million to shareholders through share repurchases and dividendsOutlook largely unchangedAURORA, Ontario, Aug. 08, 2019… Continue reading Magna Announces Second Quarter Results
Magna Grows Seat Business With New Ohio Facility
Plant to make seat structures150,000-square-foot facility, $60 million initial investmentMarks Magna’s 5th manufacturing plant in OhioTROY, Mich., July 30, 2019 (GLOBE NEWSWIRE) — Magna has won new seating business in North America with a global automaker and will supply seat structures from a new manufacturing facility in Lancaster, Ohio.The company held a groundbreaking ceremony today… Continue reading Magna Grows Seat Business With New Ohio Facility
Magna Celebrates the Signing of Its First Complete Vehicle Manufacturing Joint Venture in China
JV to have capacity of up to 180,000 vehicles per yearFirst production of electric vehicles planned to be launched in late 2020Capability to offer EV contract manufacturing services to other potential customersZHENJIANG, China, July 24, 2019 (GLOBE NEWSWIRE) — Today Magna, BAIC Group and the Zhenjiang government celebrated the signing of a framework agreement governing… Continue reading Magna Celebrates the Signing of Its First Complete Vehicle Manufacturing Joint Venture in China
Magna Announces First Quarter Results
Sales of $10.6 billion decreased 2%, compared to global light vehicle production down 7%Excluding foreign currency translation and acquisitions net of divestitures, sales in each segment outpaced global light vehicle productionReturned $403 million to shareholders through dividends of $119 million and $284 million in share repurchases2019 outlook reduced largely to reflect higher expected costs on… Continue reading Magna Announces First Quarter Results
Magna Celebrates Growing Footprint in China With Two Grand Opening Celebrations
Joint venture in Changsha produces lightweight, composite liftgates for fast-growing marketMagna wholly-owned Shanghai plant manufactures active aerodynamic grille shuttersInnovations help lower emissions and improve fuel economy for China customersSHANGHAI, April 30, 2019 (GLOBE NEWSWIRE) — Magna continues to grow its presence in China, as demonstrated by two recent grand opening celebrations.A new plant in Changsha,… Continue reading Magna Celebrates Growing Footprint in China With Two Grand Opening Celebrations