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Magna International partnered with Argus Cyber Security after joining in a 2015 Series B funding round to access the company's security technology. [17] The company sold its interiors business, which includes door and instrument panels, overhead systems and cargo management parts, to Grupo Antolin in August 2015.
In 1988, Magna formed Tesma International to manufacture engine and transmission parts. Tesma was spun off into a public company in 1995 while retaining affiliation with Magna. [1] In 2001, founded Magna Steyr (through an acquisition), to engineer, develop and assemble automobiles for other companies on a contractual basis.
Magna International and LG note that this new joint-venture will employ more than 1,000 employees across the U.S., South Korea, and China. The goal is to complete the deal in July 2021 with ...
Magna Steyr GmbH & Co KG was founded in 2001 after Magna International Inc. acquired a majority shareholding in Steyr-Daimler-Puch AG three years earlier. [4]During the second quarter of 2015, the Magna Steyr battery pack business was sold to Samsung SDI for approximately $120 million.
Frank Stronach CM (born 6 September 1932) is an Austro-Canadian billionaire businessman and politician.. Frank Stronach (2013) He is the founder of Magna International, an international automotive parts company based in Aurora, Ontario, Canada, Granite Real Estate, and the Stronach Group.
Magna Entertainment Corporation (MEC) was created in 1999 by parent company Magna International Inc. Magna International, a major automotive supplier based in Ontario, Canada, underwent a corporate reorganization in which its non-automotive businesses and interests were transferred to MEC.
On 31 August 2015, the company announced the acquisition of Magna Interiors, the interiors business of Magna International. [ 1 ] [ 2 ] Grupo Antolín acquired an automobile parts manufacturing plant in Nashville, Illinois , originally established in 1987 as Ligma Corporation, a joint venture between Magna International and Lignotock of West ...
In 2004, Magna International purchased 80% of New Venture Gear from DaimlerChrysler and put it under Magna Drivetrain. [8] Magna purchased the remaining 20% interest in 2007. [9] The New Process gear plant remained property of DaimlerChrysler. Chrysler then leased the facilities to Magna. [10]