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Magna International Inc. (TSX - MG), was founded in 1957 by Austrian-born Frank Stronach as Multimatic. This company merged with Magna Electronics in 1969, and the combined company became Magna International in 1973. Magna is the most diversified global automotive supplier. Magna designs, develops and manufactures technologically advanced systems, assemblies, modules and components, and engineer and assemble complete vehicles, primarily for sale to original equipment manufacturers (“OEMs”) of cars and light trucks. Magna's capabilities include the design, engineering, testing and manufacture of automotive interior systems; seating systems; closure systems; body and chassis systems; vision systems; electronic systems; exterior systems; powertrain systems; roof systems; as well as complete vehicle engineering and assembly. Magna has approximately 72,500 employees in 238 manufacturing operations and 79 product development, engineering and sales centres in 25 countries. Magna manufactures auto parts that are primarily supplied to all major automakers including General Motors, Ford Motor Company, Chrysler Group LLC, Volkswagen, BMW, Mercedes, Nissan, Toyota, Honda and Hyundai. In Europe, Magna Steyr holds contracts for the assembly of the Jeep Grand Cherokee, Chrysler Voyager minivan and BMW X3 SUV. |
