Magna Archives - Page 4 of 5 - aftermarketNews
Magna Announces 2nd Quarter Sales Of $10.1B

Net income attributable to Magna International Inc. was $452 million for the second quarter of 2019 compared to $626 million in the second quarter of 2018.

Magna Wins J.D. Power Award For Seat Quality and Satisfaction

This is the second year in a row the Ford Edge seats, manufactured by Magna, have ranked highest in the category.

Magna Divests Its Global Fluid Pressure And Controls Business

The sale price is approximately $1.23 billion, before the assumption of net debt and pension liabilities at closing, and subject to customary closing adjustments for net working capital.

Magna To Jointly Engineer And Build Premium Electric Vehicles For Customers In China 

China is currently the world’s leading market for electric mobility. By 2020, the number of all-electric cars on China’s roads is forecasted to reach around 5 million.

Magna Announces 2018 Annual Meeting Results

Magna’s advisory “say on pay” vote received 97.25 percent support based on proxies received prior to the meeting and votes cast in person at the meeting.

Magna Celebrates Grand Opening At South Carolina Seat Facility

Magna has three other manufacturing locations and employs approximately 1,450 people in South Carolina. The new seating facility is Magna’s fourth location in the state.

Magna Brings New Mobility Technology To CES 2018

By using virtual reality technology, attendees at the Magna booth can experience firsthand how an autonomous vehicle works.

Magna Announces Completion Of 2nd Share Repurchase Program

Magna repurchased a total of 395,100 common shares under the program directly from a third party, for an aggregate purchase price of approximately $21.9 million.

Magna Announces New Management Structure And Financial Reporting Segments

The company says the shift better aligns its global operations with its long-term strategy tied to the future of mobility.

Magna To Unveil etelligentDrive Systems At CES 2018

Magna’s etelligentDrive systems will be on display at CES 2018. The company’s e1 concept vehicle will be used to demonstrate different electric-drive (e-drive) concepts and systems, as well as demonstrate Magna’s vehicle integration capabilities.

Magna Announces 3rd Quarter Results

The company reports record sales for the third quarter, up 7 percent to $9.5 billion.

Magna Expands In Alabama With Aluminum Casting Facility

Magna invested approximately $60 million to add the 150,000-square-foot facility. At full capacity, the expansion has the potential to generate more than 100 jobs.