Magna International
| Company type | Public |
|---|---|
| NYSE: MGA TSX: MG | |
| Industry | Automotive |
| Founded | 1957 |
| Founder | Frank Stronach |
| Headquarters | , |
Area served | Worldwide |
Key people |
|
| Products | Automotive |
| Revenue | US$42.797 billion (2023) |
| US$1.606 billion (2023) | |
| US$1.213 billion (2023) | |
| Total assets | US$ 32.255 billion (2023) |
| Total equity | US$13.234 billion (2023) |
Number of employees | 179,000 (2023) |
| Subsidiaries | |
| Website | www |
Magna International Inc. is a Canadian parts manufacturer for automakers. It is one of the largest companies in Canada and was recognized on the 2020 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 and Stellantis, as well as BMW, Mercedes, Volkswagen, Toyota, Tesla, and Tata Motors, among others.
The company is headquartered in Aurora, Ontario, and its chief executive officer is Swamy Kotagiri. It has 158,000 employees in 342 manufacturing operations and 91 product development, engineering and sales centres in 27 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.