Magna International

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Magna International Inc.
legal form	Corporation
ISIN	CA5592224011
founding	1957
Seat	Aurora (Ontario) , Canada
management	Donald Walker , CEO
Number of employees	169,000+ (2019)
sales	$ 40.8 billion (2018)
Branch	Automotive supplier
Website	www.magna.com

Magna International Inc. is a Canadian - Austrian automotive supplier headquartered in Aurora , Canada . The European branch is controlled from Vienna . The company is listed on the New York Stock Exchange and the Toronto Stock Exchange . Magna International is Canada's largest manufacturer of automotive parts and one of the largest companies in the country. Worldwide the group has over 168,000 employees in 338 production plants and 96 development centers in 28 countries.

Foundation and development

Magna founder Frank Stronach

Worldwide activities of Magna International 2016.

The company was founded in 1957 by the Austro-Canadian Frank Stronach from Styria under the name Multimatic . In 1969, his auto parts maker merged with Magna Electronics , a Canadian manufacturer of defense electronics . In 1973 the name was changed to Magna International . Magna International is mainly based in southern Ontario , where it produces for the major automotive companies in Canada and the USA.

In the 1980s Frank Stronach returned to Austria and settled his European headquarters (Magna Holding AG) in Oberwaltersdorf . Numerous companies have been incorporated into the group since the 1990s, such as the then Steyr-Daimler-Puch in Austria in 1998 , now Magna Steyr , and the vehicle mirror manufacturers Donnelly Hohe and Zipperle from Germany. In 2005 Magna bought the convertible top and roof module manufacturer Car Top Systems from Porsche .

Many plants were built in Frank Stronach's birthplace Weiz and the surrounding area, for example in Krottendorf , Gleisdorf , Sinabelkirchen , Ilz and Lannach . Magna International is also represented with suppliers in the immediate vicinity of German production sites in the automotive industry such as Ingolstadt .

Magna International is not only an automotive supplier and developer, but also builds finished vehicles, but not under its own brand, but for other manufacturers such as Mercedes-Benz , Chrysler , Saab , Peugeot , BMW and from 2009 also for Mini and Aston Martin . For example, the SUV BMW X3 was co-developed and built in Graz for BMW .

In Austria, the company is also known for its sponsorship appearances in the Austrian football business. From 2008 to 2011 it was the main sponsor of SC Magna Wiener Neustadt .

In May 2007, Magna announced that Russian billionaire Oleg Vladimirovich Deripaska and his conglomerate Basic Element would acquire a stake of 1.14 billion euros in Magna. The exact percentage of participation has not yet been announced. Experts assume a participation of around 20%. At the beginning of October 2008, a Russian bank withdrew Oleg Deripaska's 17 percent stake as security. Frank Stronach expects the new partnership to offer Magna great growth opportunities in Russia and the surrounding countries.

Magna was named as a possible buyer of the Chrysler division of DaimlerChrysler , but this did not succeed: on May 14, 2007, the majority of Chrysler was taken over by Cerberus Capital Management .

In 2009 Magna International Inc. is indirectly controlled by the Stronach Trust through its 92.4% holding subsidiary M Unicar Inc. The Stronach Trust holds approximately 66.1% of the total voting rights in Magna. The Stronach Trust also indirectly controls the Canadian real estate company MI Developments Inc. and the US Magna Entertainment Corporation (horse racing tracks, casinos). The MEC had to file for Chapter 11 bankruptcy in March 2009 .

In April 2009, Magna made a takeover offer for the automobile manufacturer Opel , the European subsidiary of the troubled General Motors group, and held talks about this with the German government, with General Motors and its financiers, the American government. On May 30, 2009, the German government announced that Magna had been awarded the contract for Opel. The Canadian supplier planned to take a majority stake together with the Russian Sberbank . On September 10, 2009, the parent company General Motors announced that they wanted to surrender 55% of the Opel shares to the consortium of Magna and the Russian Sberbank. On November 3, 2009, the General Motors Board of Directors revised its decision and decided that Opel should remain in the group.

In 2013 Magna International Europe moved from Oberwaltersdorf in Lower Austria to Vienna.

In July 2015 Magna bought the German gear manufacturer Getrag , subject to the antitrust authorities .

Political connections

The company is known for its good contacts with politics, for example in Canada and Austria it employs several former high-ranking politicians from various political directions. The later Austrian Finance Minister Karl-Heinz Grasser ( FPÖ ) was employed in Stronach's group from 1998 to 1999. The former Austrian Chancellor Franz Vranitzky has been a member of the Supervisory Board since 1997. The former SPÖ managing director Andreas Rudas became press spokesman at Magna in 2000. In 2003 the former Minister of Infrastructure Mathias Reichhold (FPÖ) moved to the Magna Group as a consultant for traffic information systems, telematics and space technology.

Frank Stronach ran for the Liberal Party of Canada in 1988 . Magna International also has good connections with the Progressive Conservative Party of Ontario and the Ontario Liberal Party .

In 2004, the company's former chairman and current vice president, Stronach's daughter Belinda Stronach , ran for leadership of the Conservative Party of Canada . In May 2005 she switched to the Liberal Party and was Canada's Minister of Social Affairs until the 2006 elections.

On March 18, 2005, former US Ambassador to Canada, Paul Cellucci , was named Vice President of Magna Entertainment Corp. called.

Dieter Althaus , the former Prime Minister of the Free State of Thuringia, worked as a lobbyist for the group from February 2010 until the end of the year. He worked as Vice President in the Magna office in Wolfsburg, where he was responsible for the customer Volkswagen AG and for contacts with public authorities in Germany. He has been Vice President Governmental Affairs since 2011. As Prime Minister in 2009, Althaus was closely involved in the negotiations for the takeover of Opel by Magna.

In 2012 Frank Stronach founded his own party in Austria, the Stronach team . By converting it was initially represented by six members in the National Council. The 2013 National Council election increased the number of seats to eleven.

Magna Holding companies and groups of companies

• Cosma
• Magna Exteriors
• Magna Powertrain
• Magna Electronics
• Mechatronics
• Magna Mirrors
• Magna Lighting
• Magna Seating
• Magna Steyr
• Magna Telemotive
• Magna Auteca

Company strategy

Magna does not sell finished products under its own brand. The company relies on major customers. Therefore, the product quality and research processes are the basis of the long-term sales strategy. The company introduced the EFQM model to improve quality control at the Ilz powertrain plant .

Web links

• Magna International Inc. website
• Magna Powertrain website
• Magna Cosma website
• Magna - the unknown size Report AUTO BILD 21/2009, May 30, 2009
• Nothing comes for free Report, Constantin Magnis, Cicero magazine, July 2009

Individual evidence

1. ↑ Magna Announces First Quarter Results magna.com: 2019
2. ↑ ^{a b} Annual Report to Shareholders magna.com: 2018
3. ↑ ^{a b} Magna: Large supplier with automotive experience . Swabian newspaper. May 30, 2009. Archived from the original on March 19, 2014. Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved November 11, 2011. 
4. ↑ Total panic on the Russian stock exchange . The press. October 6, 2008. Archived from the original on December 11, 2008. Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. Retrieved November 11, 2011. 
5. ↑ http://www.bundeskartellamt.de/wDeutsch/download/pdf/Fusion/Fusion10/B9-13-10-OeFneu.pdf?navid=87  ( page no longer available , search in web archives )
6. ↑ http://www.manager-magazin.de/magazin/artikel/a-644160.html
7. ↑ Magna is allowed to save Opel from May 30, 2009.
8. ^ Rescue plan for Opel is in place . The New Zurich Times. May 30, 2009. Retrieved November 11, 2011.
9. ↑ Tagesschau : General Motors discovers the value of Opel from November 4, 2009.
10. ^ Automobilwoche.de: Takeover: Magna buys Getrag
11. ↑ My résumé . Homepage of Dieter Althaus. Retrieved November 11, 2011.
12. ↑ Althaus becomes a car lobbyist . Mirror online. January 29, 2010. Retrieved November 11, 2011.
13. ↑ magna.com: Magna Groups
14. ↑ Magna takes over German automotive supplier Telemotive. April 27, 2016, accessed November 14, 2019 . 
15. ^ Magna Mirrors Supplier Expectations Day. In: dsc.magna.com. P. 19 , accessed on May 2, 2020 .