Light Work: Dupont and Magna explore adhesive liftgate bonding
Toronto, Ontario — A partnership between Canadian auto parts manufacturer Magna International and material and chemical giant DuPont is looking to elaborate on the concept of using adhesives rather than welding to bond vehicle liftgates. Spurred by increasing demand for lighter-weight vehicle solutions as electrification spreads, the two companies are currently attempting to simplify the […]
Branching Out: Magna International approved for funding of 345,000 sq.-ft. facility in Michigan
St. Clair, Michigan – Aurora, Ontario-based Magna International is taking its first steps south of the border as the company announced plans to build a 345,000 sq.-ft. facility in the city of St. Clair, Michigan to produce battery enclosures for the new 2022 GMC Hummer EV. Operating under the newly established entity of Magna Electric […]
Tuesday Ticker: February 23, 2020
Toronto, Ontario — In this week’s Tuesday Ticker, Magna shatters Q4 2020 Wall Street expectations, LKQ reports its fourth-quarter results and Toronto-based auto parts maker ABC Technologies makes its trading debut with a thinner-than-expected IPO. Magna makes moves Magna beat Wall Street expectations for its 2020 fourth-quarter net income, reporting a 68 percent increase to […]
Tuesday Ticker: February 2, 2021
Toronto, Ontario — In this week’s Tuesday Ticker, Magna teases big outcomes regarding its forthcoming partnership with LG, a Toronto-based auto parts manufacturer sets its sights on the TSX and Ford files Takata-related losses with the U.S. Securities and Exchange Commission. Magna charges on An impending electrified partnership between Aurora, Ont. based parts manufacturer Magna […]
Truly Magnanimous: Magna International donates $2 million to Sheridan College
Brampton, Ontario – Sheridan College has a big boost coming in the form to a $2 million donation from Magna International, announced last week. The donation from the Aurora, Ontario-based automotive technology supplier is earmarked for updates to equipment in the Skilled Trades Centre at Sheridan’s Davis Campus in Brampton, Ontario. As well, part of […]
Tuesday Ticker: January 12, 2021
Toronto, Ontario — In this week’s Tuesday Ticker, Driven Brands announces its plans for its proposed initial public offering, speculations on who will build Apple’s rumoured self-drivng vehicle and Tesla CEO Elon Musk is named the world’s richest person. Driven to market Last week, Driven Brands—owner of collision repair brands CARSTAR, Maaco, Fix Auto USA […]
Tuesday Ticker: January 5, 2021
Toronto, Ontario — In this week’s Tuesday Ticker, Magna’s new CEO takes charge, PSA shareholders announce an overwhelming ‘ye’, DesRosiers preps to unveil new data and Volkswagen initiates the first phase of its Takata recalls. Moves at Magna Alongside the ringing of the new year, Magna International officially welcomed Swamy Kotagiri as the company’s new […]
New welding method cuts weight and cost, says Magna
By Allison Preston Troy, Michigan — November 3, 2017 — Magna has announced the creation of a new way of joining thermoplastic materials, which it claims will help automakers cut weight and costs, called torsional welding. The torsional welding process, developed by Magna for automotive applications at its exteriors plant in Liberec, Czech Republic, is […]
Magna creates carbon fibre subframe for Ford
Paris, France — March 14, 2017 — The use of carbon fibre has grown significantly in recent years, but it’s still not considered a mass-market material. That might change very soon, judging by news coming out of the JEC World 2017 event currently underway in France. The news revolves around the results of a new […]
Magna to display connected car, driver safety systems at CES 2016
Aurora, Ontario — December 30, 2015 — Auto parts manufacturer Magna International is getting into the connected car game. The parts giant announced that its “Moving People” exhibit at the CES 2016 world stage in Las Vegas will showcase innovations which seek to address key industry challenges related to connected vehicle security and driver safety. […]
