Magna

Largest Insolvency in Styria: Fisker GmbH and its Effects

The insolvency of the Austrian Fisker subsidiary has far-reaching consequences for the Styrian economy. With a mountain of debt of almost four billion euros, it is the largest corporate bankruptcy of the year.

August 8, 2024

Western Balkans: Foreign Minister Linhart Visits Albania and North Macedonia

Foreign Minister Linhart, accompanied by an Austrian business delegation, visited the Western Balkan States of North Macedonia and Albania. Read about the foreign minister's meetings with various government officials, as well as his meetings with local business people as part of the ReFocus Austria initiative.

November 22, 2021

Vietnamese Business Delegation in Vienna

The Chairman of the Vietnamese National Assembly, Vuong Dinh Hue, and a high-ranking business delegation recently attended a business forum in Vienna with the Austrian Chamber of Commerce (WKÖ) Vice-President Richard Schenz. The forum included discussions about the dynamic Vietnamese economy and why it is an ideal location for Austrian companies and investors to diversify in Asia.

September 22, 2021

Ex-Magna Boss Buys Former Employer's Headquarters in Oberwaltersdorf

The Styrian Car Manager of Oleg Deripaska's Russian Machines Company and former Magna CEO Siegfried Wolf has bought the former Magna headquarters in Oberwaltersdorf.

March 2, 2016

Magna Steyr Aimes for full Capacity Utilisation at Graz Plant

The car manufacturers Jaguar Land Rover are moving part of their production from England to Austria. With new orders from Jaguar Land Rover, BMW and Daimler, the medium-term vehicle production at the Magna plant in Graz is set to return to levels in excess of 200,000 per year.

September 11, 2015

Jaguar Land Rover Signs Deal to Manufacture Cars in Austria

Tata Motors-owned luxury carmaker Jaguar Land Rover (JLR) said it has signed a contract manufacturing agreement with Austrian automotive firm Magna Steyr in another step to enhance its worldwide production line and build global footprint.

July 29, 2015

Magna Not to Leave Austria for Eastern Europe

“There will be no impacts on Austria or Styria“, a spokeswoman announced. Instead, a plant in Belgium will “probably” be closed.

June 26, 2013

Magna Opens New Engineering Center in Shenyang

Magna International Inc., announced yesterday that its Magna Steyr operating unit continues to strengthen its worldwide network of engineering services by opening a new engineering center located in the Tiexi District of Shenyang, China.

June 26, 2013

Magna Negates Downsizing

The Canadian-Austrian automotive component supplier Magna has rejects the alleged cut in workstaff in its plant in Graz.

May 6, 2013

Magna: Workstaff in Europe to be Reduced

According to CEO Walker the factory in Graz needs to become more efficient.

May 6, 2013

Magna to Build Research Center in Austria

Magna plans to set up a new research department in Traiskirchen.

March 29, 2013

Magna May Withdraw from Austria

The automotive group threatens to leave Austria. The wages would be too high, Magna Europe´s CEO Günther Apfalter says in an interview with “Kurier”.

November 5, 2012

Magna is Said to Lose Manufacturing of Mini

BMW considers shifting its production from Austria to the Netherlands or the U.K.

October 2, 2012

Stronach Founds New Party: „Historical Event“

The former CEO of the Canadian automotive group Magna has presented his new party “Team Stronach” today.

September 27, 2012

Austrian Elections 2013: Stronach Confirms Candidacy

This week, the former CEO of Magna Frank Stronach will present the program of his party. The name of the party is not fixed yet.

September 25, 2012

„Turkey has a Right of being a EU Member“

On the occasion of a visit in Vienna, the Turkish Minister of Economics Zafer Caglayan complains about the “disingenuous manner” of the EU towards Turkey. In the end, only Turkey will decide on the accession.

September 19, 2012

ÖIAG: Three Potential Candidates

The Austrian Industrial Holding needs a new chairman. Tomorrow, the decision should be published.

September 6, 2012

Magna Denies Reports on Expansion in Poland

According to Polish media reports, Magna was said to invest € 238m in Poland. The Canadian automotive group denies expanding in Poland.

September 4, 2012

Magna to Invest € 238m in Poland

The Canadian automotive group plans to produce cars for “Mini” and “Infinity”.

September 3, 2012

Austria Connect Canada 2012

2nd Austria Connect Canada 2012 Conference: Intensive exchange of experiences and views in Toronto on Research and Development.

June 28, 2012

Decreasing Production at Magna Austria

The Canadian automotive component supplier records rising revenues and profits. The Austrian subsidiary registers a cut of 10% in production.

May 11, 2012

Magna Plans 40 New Sites

The automotive component supplier intends to establish new sites in Eastern Europe and South America.

March 12, 2012

French and Austrian Automobile Clusters to Cooperate Closer

A delegation of French automobile companies will be received in Graz in order to intensify technologic cooperation.

March 2, 2012

Magna: Production on the Rise

The Canadian automobile supplier company increased its sales by one quarter. In Austria, car production was up by 51%.

February 25, 2012

Siegfried Wolf Enters Sberbank

The Austrian national and executive at Magna in Russia becomes President of VBI´s supervisory board.

February 16, 2012

Magna Steyr Builds Mercedes Until 2020

The contract between the German Daimler Group and the Austrian automotive supplier has been extended. However, Magna had to make concessions.

February 8, 2012

Austrian Mercedes Production Endangered to Shift to Hungary

Construction of the SUV Mercedes G-class could switch from the Magna factory in Graz to Hungary.

January 24, 2012

Magna to Develop Luxury Cars in Styria

The Japanese Infiniti lets Magna develop and construct its smallest model in Austria.

December 10, 2011

Magna Powertrain Expands in Styria

The Canadian automotive supplier again invests in the Austrian plan Lannach. Investments of € 30m are planned.

December 6, 2011

Strong Growth for Exports to USA in 2012

This year, Austrian exports to the U.S. will reach the level of 2008. The export volume will amount to € 6.0bn this year.

November 12, 2011

Magna to Build Battery Factory in Styria

The international component supplier and Frank Stronach will start production of batteries for electric vehicles. They received a major order from Mercedes.

August 26, 2011

Strong Plus in Sales for Magna

The Canadian component supplier increased sales by 29% to $ 14.5bn. In Austria, the company employs approximately 11,000 people.

August 5, 2011

Austrian Companies Are Looking for Opportunities in Russia

A delegation of 140 people pursues contacts with potential partners during the state visit of President Fischer. The country’s economy is predicted to grow by 4% in 2011.

May 19, 2011

Magna Europe in Euphoria

The Austrian-Canadian automotive supplier intends to increase car production significantly.

March 6, 2011

Magna Pushes its Presence in Emerging Markets

The Austrian-Canadian automotive supplier intends to expand its international presence in the BRIC countries.

February 12, 2011

Magna Steyr Expands Production in Graz

The German carmaker group BMW has a further model of the British brand "Mini" manufactured in Austria.

January 27, 2011

Magna Expands Styrian Plants

The automotive supplier invests around € 30m for capacity expansion of in two Austrian locations to accept new orders.

January 22, 2011

Bright Outlook For Magna

The Canadian/Austrian automotive component supplier today announced its financial outlook and expects a significant increase in sales as well as profits.

January 14, 2011

Stronach Sells Shares to Magna

The founder and long-time Chairman of the board of the Austria-Canadian Magna Group, Frank Stronach, only holds 5.14% now.

December 30, 2010

Change in Magna´s Management

The Austrian-Canadian component supplier announces a change in its Board of Directors. Belinda Stronach leaves.

December 22, 2010

Magna: Fight for Pininfarina Car Designer

Magna is interested in buying the renowned car body manufacturer and designer Pininfarina, but Indians and Chinese also have purchase intentions.

November 18, 2010

Magna: Significant Increase in Sales and Earnings

Magna International Inc. today reported financial results for nine months ended September 30, 2010.

November 5, 2010

MAGNA: Still No Battery Plant in Burgenland

All efforts towards the establishment of the plant seem in vain so far, although the prospects for success seemed quite good recently.

October 18, 2010

Magna-Steyr Member of the Board Apfalter becomes Europe Boss of the Magna Group

Apfalter stays on as Magna-Steyr CEO; Eibeck, as Europe Vice-President, is responsible for the Russian market

October 15, 2010

Slovakia: Changes in Automobile Production Trend

Manufacturers operating in Slovakia invest again. Total production in 2010 may reach over half a million vehicles. An opportunity for foreign suppliers.

October 12, 2010

Russian Machines: Siegfried Wolf Obtains a Stake and Receives Clear Voting Rights

Siegfried Wolf, one of the two former top executives of Magna International not only changes over (as reported) to Oleg Deripaska's “Basic Element” company, but will also have a stake in it.

September 29, 2010

Magna: Rapprochement to Opel through Astra-order

Magna will take over the development of a new Opel Astra model. Just a year ago, Magna attempted to acquire the whole German GM subsidiary, but the takeover was aborted by General Motors.

September 29, 2010

Magna International - Openings of New Plants in St. Petersburg Area

Magna International Inc., the world’s most diverse automotive supplier, announced today the opening of three facilities in the St. Petersburg, Russia, area.

September 23, 2010

Magna - Siegfried Wolf to leave in November

Magna International Inc. today announced that Siegfried Wolf, Magna's Co-Chief Executive Officer, has resigned as a director and officer effective November 15, 2010.

September 13, 2010

Magna - Plan of arrangement completed

Magna's plan of arrangement to eliminate Magna's dual-class share structure has been completed.

September 1, 2010