Magna International Inc
Company Profile
Business description
Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contract vehicle assembly. In 2023, 48% of Magna's $42.8 billion of revenue came from North America while Europe accounted for approximately 38% and Asia the remainder. The firm's top six customers constituted 76% of revenue with the top three being GM, Mercedes, and BMW. GM was the largest contributor at 14%. The company was founded in 1957, has over 179,000 employees, and is based in Aurora, Ontario.
Contact
337 Magna Drive
AuroraONL4G 7K1
CANT: +1 905 726-2462
Sector
Consumer Cyclical
Stock type
Cyclical
Industry
Auto Parts
Fiscal Year End
31 December 2024
Employees
177,000
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