Magna International Inc. is a Canadian mobility technology company for automakers. It is one of the largest companies in Canada and was recognized on the 2019 Forbes Global 2000.
The company is the largest automobile parts manufacturer in North America by sales of original equipment parts, it has ranked consistently in the Fortune Global 500 list for 20 years in a row since 2001.
It produces automotive systems, assemblies, modules, and components, which are supplied to General Motors, Ford Motor Company and FCA, as well as BMW, Mercedes, Volkswagen and Tesla Motors, among others.
The company is headquartered in Aurora, Ontario, and its chief executive officer is Donald Walker. It has 169,000 employees in 338 manufacturing operations and 89 product development, engineering and sales centres in 28 countries.
Magna is governed under a corporate constitution which calls for distribution of profits to employees and shareholders. The terms of this contract are a “fair enterprise system” according to company founder Frank Stronach.
Traded as: NYSE: MGA; TSX: MG
Industry: Manufacturing
Founded: 1957; 64 years ago
Founder: Frank Stronach
Headquarters: Aurora, Ontario, Canada
Products: Automotive
Website: www.magna.com