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Last C$70.37 CAD
Change Today -0.74 / -1.04%
Volume 307.0K
MG On Other Exchanges
New York
As of 4:00 PM 05/25/15 All times are local (Market data is delayed by at least 15 minutes).

magna international inc (MG) Snapshot

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05/25/15 - C$71.30
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10/15/14 - C$46.45
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magna international inc (MG) Details

Magna International Inc. develops, manufactures, engineers, supplies, and sells automotive products. It operates through North America, Europe, Asia, and Rest of World segments. The company offers body and chassis systems, and related engineering services; seating systems, including complete seating systems, seat structures and mechanisms, and foam and trim products; interior components and systems, such as garnish and hard trim, soft trim, instrument panels and consoles, overhead systems, and door panels, as well as powertrain systems, such as driveline systems, fluid pressure and controls, metal forming solutions, and engineering services and system integration solutions. It also provides vision systems comprising interior and exterior mirrors, actuators, and electronic vision systems; and closure systems comprising door modules, power closure systems, engineered glass products, window systems, latching systems, lighting systems, sealing systems, electronic features, handle assemblies, and hinges and rods. In addition, the company provides electronic systems, including driver assistance systems and electronic components; exterior systems, such as bumper fascia systems, exterior trim, modular systems, class a body panels, and structural components; and roof systems, including sliding folding and modular roofs, retractable hard tops, and soft tops. Further, it offers vehicle engineering and contract vehicle assembly services; fuel systems; engineering support services; and tooling and other products. The company was founded in 1957 and is headquartered in Aurora, Canada.

133,000 Employees
Last Reported Date: 05/7/15
Founded in 1957

magna international inc (MG) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $325.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $325.0K
President of Magna Europe and President Magna...
Total Annual Compensation: $242.0K
Chief Legal Officer and Executive Vice Presid...
Total Annual Compensation: $325.0K
Chief Operating Officer of Exteriors, Interio...
Total Annual Compensation: $325.0K
Compensation as of Fiscal Year 2014.

magna international inc (MG) Key Developments

Magna International Inc. Expands All-Wheel-Drive Leadership by Supplying Dynamax on New Kia Sorento

Magna International Inc. announced the company is supplying its intelligent Dynamax all-wheel drive coupling on a global basis to power the all-wheel-drive system of the all-new Kia Sorento. With Dynamax, the Sorento provides drivers with optimized handling, increased safety and improved fuel efficiency. Magna's Dynamax system is the first continuous and fully active AWD system that exchanges information with the control electronics of the car, allowing it to anticipate events and adjust early-on rather than react to changing conditions like previous AWD systems. By ensuring that Dynamax is one step ahead of the car, ideal torque and traction can significantly improve stability, performance and fuel efficiency. The multi-plate coupling of the Dynamax system and its energy-efficient electronic components boost the track stability of the front axle, effectively preventing unwanted under- and over-steering, and thus improving both safety and driving enjoyment. The system's high-thermal stress tolerance also protects the AWD system from overheating, even during long and/or steep climbs. The Dynamax all-wheel-drive coupling is manufactured by the WIA-Magna Powertrain joint venture in Asan, Chungcheongnam-do, South Korea, and shipped to Kia's Sorento assembly locations in South Korea and the United States. The Dynamax system was first introduced in 2010 on the Kia Sportage.

Magna International Inc. Declares Dividend for the Quarter Ended March 31, 2015, Payable on June 12, 2015; Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Year 2015

The Board of Directors of Magna International Inc. declared a quarterly dividend of USD 0.22 with respect to outstanding common shares for the quarter ended March 31, 2015. This dividend is payable on June 12, 2015 to shareholders of record on May 29, 2015. The company reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported sales of USD 8,330 million against USD 8,961 million a year ago. Income from operations before income taxes was USD 631 million against USD 581 million a year ago. Net income attributable to the company was USD 465 million or USD 1.12 per diluted share against USD 393 million or USD 0.88 per diluted share a year ago. Cash provided from operating activities was USD 294 million against USD 474 million a year ago. The decrease in cash flow from operations was due to a USD 91 million decrease in items not involving current cash flows partially offset by a USD 72 million increase in net income. Fixed asset additions were USD 280 million against USD 217 million a year ago. Adjusted EBIT was USD 642 million against USD 605 million a year ago. The weakening of certain currencies against U.S. dollar reporting currency, in particular the euro and Canadian dollar had a significant negative impact on reported sales for the first quarter of 2015. Foreign currency translation reduced sales by approximately USD 880 million, as compared to the first quarter of 2014. Excluding the impact of foreign currency translation, sales increased 3% in the first quarter of 2015, compared to the first quarter of 2014. Fixed assets, investments and other assets additions was USD 322 million against USD 271 million a year ago. For the year 2015, the company expects the total light vehicle production of 37.6 million units. Total production sales to be in the range of USD 26.4 billion to USD 27.7 billion. Total sales to be in the range of USD 30.8 billion to USD 32.5 billion. Operating margin to be high 7% range. Tax rate to be approximately 26%. Capital spending to be in the range of USD 1.3 billion to USD 1.5 billion.

Magna and Chongqing Xingqiaorui Automotive to Form Joint Venture

Magna International Inc. and Chongqing Xingqiaorui have agreed to form a strategic joint venture in China. Under the terms of the agreement, Cosma International, Magna's body and chassis operating unit, will hold a 53% stake in the JV, while Xingqiaorui will hold the remaining 47%. The transaction is expected to close in late 2015 or early 2016, subject to regulatory approvals.


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