Key Developments: Magna International Inc (MGA)

MGA on New York Consolidated

111.40USD
23 Jul 2014
Price Change (% chg)

$0.74 (+0.67%)
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Latest Key Developments (Source: Significant Developments)

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

Magna International Inc declares quarterly dividend of $0.38 per share
Monday, 3 Mar 2014 05:00am EST 

Magna International Inc:Declares quarterly dividend of $0.38 per share for quarter ended Dec. 31, 2013.Dividend is payable on March 28 to shareholders of record on March 14.  Full Article

Magna International Inc and Chongquing Trim Company form joint venture
Monday, 3 Feb 2014 02:49pm EST 

Magna International Inc:Says through its Magna Exteriors operating unit, and Chongquing Guangneng Rongneng Trim Co., Ltd., announced the formation of a 50/50 joint-venture partnership.Says the newly formed JV, called Magna Guangneng Automotive Trim System (Hangzhou) Co., Ltd., will begin supplying the growing China automotive market through a new greenfield facility located in Hangzhou, China.  Full Article

Magna International Inc signs new manufacturing contract with BMW Group
Thursday, 30 Jan 2014 09:41am EST 

Magna International Inc:Says its Magna Steyr operating unit will continue its collaboration with the BMW Group through a new vehicle manufacturing contract for its facility in Graz, Austria.Says the new production program would start following the end of production of the current MINI models MINI Countryman and MINI Paceman being assembled by Magna Steyr in Graz.  Full Article

Magna International Inc gives FY 2014 revenue outlook below analysts' estimates - Conference Call
Wednesday, 15 Jan 2014 12:05pm EST 

Magna International Inc:Expects FY 2014 total sales to be in the range of $33.8-$35.5 bln.FY 2014 revenue of $36.0 bln - Thomson Reuters I/B/E/S.  Full Article

Magna International Inc Declares Quarterly Dividend
Wednesday, 6 Nov 2013 07:00pm EST 

Magna International Inc announced that the Board of Directors declared a quarterly dividend of $0.32 with respect to our outstanding Common Shares for the quarter ended September 30, 2013. This dividend is payable on December 13, 2013 to shareholders of record on November 29, 2013.  Full Article

Northern America, Europe demand boosts auto parts maker Magna's profit

- Canadian auto parts maker Magna International said quarterly net profit rose nearly 7 percent as demand improved in North America and Europe, and the company raised its production sales forecast for the regions.

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