PLANT

News Automotive Manufacturing General
October 20, 2020  

Magna CEO Walker to retire at end of 2020, Seetarama Kotagiri up next

Kotagiri, currently Magna’s president, has more than 25 years of automotive industry experience, 21 years with the company.

News Automotive General
March 31, 2020  

Magna withdraws guidance due to business uncertainty of COVID-19 outbreak

The auto parts company said many of its plants have reduced or suspended operations because of the outbreak

News Automotive Manufacturing General
January 16, 2020  

Magna International expects 2020 sales to be down from 2019

Auto parts company also says it has decided to conclude its self-driving technology partnership with Lyft.

News Automotive Manufacturing General
November 11, 2019  

Magna cuts 2019 outlook after GM strike in US cuts volume

Expects total sales this year of between $38.7 billion and $39.8 billion.

News Automotive Manufacturing General
October 30, 2019  

BMW awards Magna its largest ever transmissions order

Multi-year deal covers all front-wheel drive, dual-clutch, hybrid variants.

News Manufacturing General
August 8, 2019  

Magna’s Q2 profit falls 28% as sales revenue and volumes decline

Auto parts maker cites lower operating margins and higher expense items.

News Automotive Manufacturing General
May 9, 2019  

Auto parts maker Magna reduces profit guidance for 2019

Expects light vehicle production in North America and Europe to fall shot of an earlier forecast.

News Automotive Manufacturing General
February 25, 2019  

Tariffs a problem, but USMCA could give Magna a leg up: Walker

Agreement encourages auto companies to invest or expand in the US and Canada.

News Automotive Manufacturing General
February 22, 2019  

Auto parts maker Magna reports $456M Q4 profit, ups dividend

Will now pay quarterly 36.5 cents per share, up from 33 cents per share.

News Automotive Manufacturing General
January 15, 2019  

GM reaffirms Oshawa closure after meetings with Ontario and federal officials

About 2,600 unionized workers and 340 other staff to lose jobs.

News Automotive Manufacturing General
September 20, 2018  

Magna sells FP&C business to South Korea’s Hanon Systems for $1.23B

Powertrain unit will focus on transmission and other driveline-related systems.

News Automotive Manufacturing General
August 9, 2018  

Magna stock plunges after cautious outlook amid tariff uncertainty

Edging down estimates for sales, margins and other key metrics for 2018, even though Q2 results were strong.

News Automotive Manufacturing General
June 28, 2018  

Magna buys Italian automotive light maker OLSA for $354M

Deal expands its capability to design, engineer and manufacture headlamps.

News Automotive Manufacturing General
May 10, 2018  

Magna beats Q1 profit expectations, raises guidance for the year

Revenue of $10.8 billion is up from $8.9 billion in the same quarter last year.

News Automotive Manufacturing General
May 2, 2018  

Magna invests $125,000 for Skills Ontario initiatives

Auto parts maker will also offer jobs to medalists in the industrial contests.