|
1950's
|
Setting Up Shop
|
| 1957 |
Frank Stronach opened a one-man tool and die shop called Multimatic. First year sales: $13,000 CDN. |
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1960's
|
Building The Foundation
|
| 1960 |
We received our first auto parts contract with General Motors to produce metal-stamped sun visor brackets. |
| 1968 |
Annual sales: $2.6 million US |
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1970's
|
Diversification
|
| 1973 |
Magna Electronics Corporation Limited is changed its name to Magna International Inc. |
| 1976 - 1979 |
Magna implemented a major product diversification strategy and divisions were organized into product groups. Magna surpasses the $150 million CDN sales mark by 1979. |
| 1978 |
Annual sales: $83.8 million US |
| 1979 |
Annual sales: $108.3 million US |
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1980's
|
Growth
|
| 1980 |
Annual sales: $119.9 million US |
| 1981 |
We sold our aerospace and defense operations. Automotive sales were $130 million US. |
| 1984 |
We formally adopted the Corporate Constitution, entrenching our previous long-standing commitment guaranteeing the rights of employees, shareholders and management to share in the profits they help produce. |
| 1989 |
We co-designed and co-developed the integrated child safety seat, recognized by the Smithsonian Institute as one of the great innovations of the 1980s. |
| 1989 |
Annual sales: $1.2 billion US |
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|
1990's
|
Geographic Expansion and Innovation
|
| 1990 - 1991 |
Magna underwent a major restructuring and sold non-strategic operating divisions. |
| 1990 |
Annual sales: $1.2 billion US |
| 1991 |
Annual sales: $1.3 billion US |
| 1992 |
We obtained a listing on the New York Stock Exchange. Annual sales: $1.6 billion US |
| 1994 |
We announced a groundbreaking systems integrator contract to program-manage the complete interior and exterior systems integration of a vehicle. |
| 1995 |
We implement a unique form of high-pressure hydroforming technology, a manufacturing process that utilizes water pressure to bend and form metal. We spun off Tesma International Inc., our engine, transmission and fuel systems group, as a separate public company. |
| 1996 - 1998 |
Magna underwent a major European expansion, acquiring a number of European-based automotive systems suppliers. |
| 1996 |
Annual sales: $3.8 billion US |
| 1997 |
Annual sales: $5.0 billion US |
| 1998 |
Annual sales: $6.0 billion US |
| 1998 |
Magna acquired Steyr-Daimler-Puch, one of the world's leading automotive technology and engineering companies with complete vehicle assembly capabilities. |
| 1999 |
Forbes Magazine named Magna the world's top auto parts company. Annual sales: $9.3 billion US |
| 1999 |
Annual sales: $9.3 billion US |
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*Year ended December 31st |
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2000's
|
Evolution
|
| 2000 |
Annual sales: $10.0 billion US |
| 2001 |
Magna announced the formation of its Magna Steyr group, the world's premier supplier of total vehicle engineering and one of the world's leading suppliers of niche vehicle assembly and concept development. |
| 2002 |
We acquired Donnelly Corporation creating one of the world's leading exterior and interior mirror suppliers, with lighting, engineered glass systems and advanced electronic capabilities. |
| 2002 |
Annual sales: $12.4 billion US |
| 2004 |
We acquired the worldwide operations of New Venture Gear, a DaimlerChrysler subsidiary specializing in the production of transfer cases and other drivetrain products. |
| 2004 |
We announced the creation of a new operating group, Magna Drivetrain, focused on the development and production of drivetrain technologies and all-wheel-drive systems. |
