Magna International is a leading global automotive supplier that designs, develops, and manufactures a wide range of vehicle components and systems
The company offers a diverse portfolio of products, including body and chassis, powertrain, exterior and interior systems, and seating solutions, catering to various automotive manufacturers worldwide. With a focus on innovation and sustainability, Magna is actively involved in developing advanced technologies such as electric vehicle components and automated driving systems, positioning itself as a key player in the evolving automotive landscape. Its extensive operations encompass a global network of manufacturing facilities and engineering centers, allowing Magna to meet the demands of its customers while emphasizing quality and performance.
Magna International reported a 2% year-on-year sales growth for Q4 FY24, reaching $10.63 billion, surpassing expectations. Adjusted EPS of $1.69 exceeded the consensus of $1.52.
AURORA, Ontario, Feb. 11, 2025 (GLOBE NEWSWIRE) -- For several decades, Magna has been a strategic partner to Mercedes-Benz, creating a legacy of innovation and excellence. This collaboration has spanned multiple areas of the vehicle, including powertrain and drivetrain systems, ADAS technologies, body and chassis components, electrification, interior systems, vehicle assembly, and more.
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AURORA, Ontario, Nov. 19, 2024 (GLOBE NEWSWIRE) -- As OEMs increasingly prioritize hybrid solutions globally within their broader electrification strategies, Magna has secured its first award for a Dedicated Hybrid Drive (DHD) Duo system with a leading Chinese OEM. This recognition underscores Magna's commitment to innovation and sustainability, as well as the company’s flexible approach to supplying power to wheels.
AURORA, Ontario, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG, NYSE: MGA) today announced the termination of its existing Normal Course Issuer Bid effective since February 15, 2024 (the “Prior NCIB”) and the Toronto Stock Exchange ("TSX") has accepted its Notice of Intention to establish a new Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 28,500,000 Magna Common Shares (the "New NCIB"), representing approximately 10% of its public float. As at October 31, 2024, Magna had 287,342,204 issued and outstanding Common Shares, including a public float of 286,960,792 Common Shares.
AURORA, Ontario, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the third quarter ended September 30, 2024.
AURORA, Ontario, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Magna is accelerating the industry’s move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco (DCT Eco) solution for a European OEM. This contract marks the first high-volume award for the new transmission family and supports various models in global markets with ICE transmissions.
