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Automotive

Magna International is a Canadian automobile parts producer and automotive supplier and one of the largest companies in Canada. The company has manufacturing operations and engineering, product development, and sales centers. It owns and operates Austria’s automobile production company Magna Steyr. Magna International was established by Frank Stronach in 1957 and named Multimatic. Magna Electronics and Multimatic merged in 1969, and the company was named Magna International in 1973. It acquired 80 percent of New Venture Gear, which was a former joint venture between Chrysler and General Motors, in 2004. In 2007, Magna International assumed full ownership.

The company produces automobile parts, which are mainly supplied to Chrysler, Ford Motor Company, and General Motors. Among the big automakers in the US, key customers of Magna International are Toyota, BMW, and Volkswagen.

Magna International offers a wide selection of automotive services and products, aiming to meet the challenges of chassis and vehicle body systems. Cosma International, which is fully owned by Magna, is a global supplier of SUV and light truck frames, as well as body-in-white and suspension modules. The company produces body systems, renewable energy systems, and chassis systems, offering engineering services. Cosma has extensive experience in the areas of prototype and testing, virtual engineering, and vehicle program management, among others. It offers a number of tools and services, including global support, prototype building and validation, program management, and virtual tools. Virtual tools aid performance optimization and allow early resolution of fatigue, noise, vibration, harshness, and durability issues.

Cosma International is known for assembly innovation and metal forming, making the most of roll forming, stamping, tube bending, and other joining technologies. These make it possible to offer high quality engineering services which help evaluate optics performance, thermal impact, stiffness, and durability. In addition, the company specializes in energy management solutions, body structure assemblies, as well as closure systems and exterior sheetmetal systems, which are part of its product mix.

Magna International is listed on the Toronto Stock Exchange under the symbol MG. Its main competitors are Robert Bosch GmbH, Lear Corporation, and Dana Holding Corporation, among others.
http://www.magna.com
PageRank: 0/10
(Clicks: 8; Added on: Nov 26, 2011) Listing Details Report Broken  Listing
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