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Magna stated the new company would better address the growing importance of all-wheel drive powertrains. [2] In September 2004, [3] Magna acquired the global operations of New Venture Gear from DaimlerChrysler for an estimated price of $435 million, and integrated it with Magna Drivetrain. The acquisition helped establish the newly formed Magna ...
Magna made offers to the boards of the three companies, with an expected total cost to Magna of CA$1.3 billion (equivalent to $2 billion in 2023) in cash and Magna shares, to privatize the companies within Magna International. [28] The three privatizations were completed in February (Tesma and Decoma) [29] [30] and April (Intier) of 2005. [31]
Ocala Meadows, Ocala, Florida. Magna has agreed in September 2009 to sell 490 acres (2.0 km 2) near Interstate 75 for $8.1 million (sale has not formally closed). 218 acres (0.88 km 2) land, Romulus, Michigan. Magna purchased this property in September 2002 and sold it some time in 2008 for $28 million. Thistledown Racecourse, North Randall ...
In 2018, it opened its 15th plant in the US in Shelby (Michigan) dedicated to manufacturing door panels for the RAM vans of the FCA group, adding to its American workforce of 5,700 people. An additional plant was announced to open in Alabama. [6] In May 2022, Ramón Sotomayor was the chief executive officer of Antolin.
Magna International opened the doors to a new 170,000-square-foot mirror manufacturing facility in Duncan Thursday that will employ about 255 workers. Magna Mirrors opens Duncan plant, to supply ...
One Woodward Avenue (formerly known as the Michigan Consolidated Gas Company Building and American Natural Resources Building) is a 28-story office skyscraper in downtown Detroit, Michigan. Located in the city's Financial District , it overlooks Hart Plaza and the International Riverfront .
*Note: this list includes joint-ventures based in Michigan, subsidiaries of Michigan-based companies also located in Michigan, and companies based in Michigan currently owned or controlled by private equity, venture capital, or other similar entities. Below is a separate list of outside companies with a significant presence in Michigan.
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.