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Magna, which has 49 manufacturing facilities throughout Canada, is expanding in Guelph, Belleville, Newmarket, Windsor, and Penetanguishene and will add 1,000 new jobs to Ontario, the Canadian ...
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]
Stronach was born in Newmarket, Ontario, Canada, to Austrian parents Elfriede Sallmutter and Frank Stronach, the Magna International founder and chairman. [4] She graduated from Newmarket High School and in 1985 attended York Universityin Toronto, Canada, where she studied business and economics until dropping out one year later to work at Magna.
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.
Newmarket—Aurora is a federal electoral district in Ontario, ... and auto parts maker Magna International is the largest manufacturer. According to the 2006 census ...
Newmarket's location on the Holland River enabled travel between Lake Ontario and Lake Simcoe.A portage route, the Toronto Carrying-Place Trail, ran one of its two routes up the Holland River through the Newmarket area, and over the Oak Ridges Moraine to the Rouge River and into Lake Ontario.
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.
In 2009, Magna Entertainment Corporation, which was majority owned by MI Developments, went bankrupt. [2] In the preceding years, MI Developments had provided significant debt financing to MEC, often against the wishes of many of its shareholders, who alleged that the transfers benefited Frank Stronach at the expense of MI Developments.