Key Developments: Magna International Inc (MG.TO)

MG.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Magna International Inc acquires Techform Group of Companies
Tuesday, 30 Sep 2014 02:28pm EDT 

Magna International Inc:Says that one of its subsidiaries has signed an agreement to acquire the Techform Group of Companies, an automotive supplier of hinges, door locking rods and other closure products.Says on completion of the transaction, Magna will acquire Techform's facilities located in Penetanguishene, Ontario; Portland, Tennessee; and Hefei, Anhui China.  Full Article

Magna International Inc establishes two new facilities in India
Tuesday, 23 Sep 2014 04:00am EDT 

Magna International Inc:Establishes two new facilities in the Sanand region of the state of Gujarat, India, as company continues to expand its global engineering and manufacturing footprint.At one of the new Sanand facilities, Magna will make complete seat systems for a leading automaker.The 215,000-square-foot plant will employ about 200 people and is expected to begin volume production in 2015.At Magna's second new facility in Sanand, the company will manufacture body and chassis systems for multiple customers.The 356,000-square-foot plant will employ about 400 people and also expects to begin volume production in 2015.  Full Article

Magna International Inc begins construction on new Tennessee seating facility
Wednesday, 3 Sep 2014 02:30pm EDT 

Magna International Inc:Started construction on new, manufacturing facility located in Spring Hill, Tennessee.The 122,500-square-foot facility will manufacture complete seat assemblies supplying General Motors' Spring Hill Assembly Plant.Plant will be fully operational in Jan. 2015.  Full Article

Magna International Inc declares quarterly dividend
Friday, 8 Aug 2014 05:00am EDT 

Magna International Inc:Declared quarterly dividend of $0.38 with respect to our outstanding common shares for quarter ended June 30.Dividend is payable on Sept. 12 to shareholders of record on Aug. 29.  Full Article

Magna International Inc raises FY 2014 revenue guidance
Friday, 8 Aug 2014 05:00am EDT 

Magna International Inc:Now expects FY 2014 total sales for FY 2014 to be between $35.6 and $37.3 billion.FY 2014 revenue of $36.2 billion - Thomson Reuters I/B/E/S.  Full Article

Magna International Inc announces senior notes offering
Wednesday, 11 Jun 2014 05:39pm EDT 

Magna International Inc:Enters into an underwriting agreement providing for the issuance of $750 mln aggregate principal amount of its senior unsecured notes pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.Notes will bear interest at an annual rate of 3.625 pct and will mature on June 15, 2024.Offering is expected to close on June 16, 2014.Magna intends to use net proceeds from offering for general corporate purposes, which may include capital expenditures and acquisitions.Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering.  Full Article

Magna International Inc and Ford collaborate on multi-material lightweight vehicle concept car
Wednesday, 11 Jun 2014 01:00pm EDT 

Magna International Inc:Partners with Ford Motor Company and unveiled multi-material lightweight vehicle (MMLV) concept that uses advanced material solutions to achieve a nearly 25 pct weight reduction compared to current production vehicle.Magna-led R&D activity, in cooperation with Ford, is co-funded by the U.S. Department of Energy (DOE).Project includes engineering, prototype vehicle build and selected validation testing associated with new aluminum-intensive passenger vehicle design architecture, facilitating use of advanced lightweight and high-strength materials, resulting in environmental and fuel economy benefits.Multi-material lightweight vehicle concept is based on the production version of a 2013 Ford Fusion and defines a new aluminum-intensive passenger car structure.  Full Article

Magna International Inc raises FY 2014 revenue guidance
Thursday, 8 May 2014 08:03am EDT 

Magna International Inc:Expects FY 2014 total sales in the range of $34.9 - $36.6 billion.FY 2014 revenue of $35.6 billion - Thomson Reuters I/B/E/S.  Full Article

Magna International Inc declares quarterly dividend
Thursday, 8 May 2014 08:00am EDT 

Magna International Inc:Declares a quarterly dividend of $0.38 with respect to outstanding common shares for the quarter ended March 31, 2014.Payment date June 13.Record date May 30.  Full Article

Magna International Inc lowers FY 2014 revenue outlook
Monday, 3 Mar 2014 05:15am EST 

Magna International Inc:Expects FY 2014 total production sales in the range of $28.4-$29.7 bln.Expects FY 2014 total sales in the range of $33.8 -$35.5 bln.FY 2014 revenue of $35.7 bln - Thomson Reuters I/B/E/S.  Full Article

UPDATE 1-Canadian auto parts maker Magna to open two new plants in India

TORONTO, Sept 23 - Canadian auto parts maker and contract manufacturer Magna International Inc said on Tuesday it plans to open two new plants in the Indian state of Gujarat.

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