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updated: Fri Jul 04, 2008 12:48 am

Magna International News

News on Magna International continually updated from thousands of sources around the net.

Friday Jul 4 | The Globe and Mail

Three candidates gear up to replace CAW's Hargrove

The race to replace Buzz Hargrove as president of Canada's largest private-sector union will be a three-way battle between two of his assistants and the president of one of the largest Canadian Auto Workers ...

Comment?

Related Topix: Manufacturing, Automakers, Canada,

Wed Jul 02, 2008

WERC-AM Birmingham

Company Subs Northwest Alabama Town

The town of Guin is out of the running for a plant they hoped would bring 1000 jobs to the region.

Comment?

Related Topix: Guin, AL, Manufacturing, Automakers

Tue Jul 01, 2008

Blood Horse

MEC Reorganization Vote Postponed

The parent company of Magna Entertainment Corp. has called off a scheduled July 24 shareholder meeting to vote on a complex reorganization plan that has raised the ire of some large stakeholders.

Comment?

Related Topix: Real Estate, Gaming, Magna Entertainment, Manufacturing, Automakers

Chattanooga Times Free Press

Canadian auto parts supplier nixes Alabama for plant

' Canadian auto parts supplier Magna International is no longer considering northwest Alabama for a plant that could've brought some 1,000 jobs the area, officials said.

1 comment

Related Topix: Manufacturing, Automakers

Globeinvestor.com

Chrysler's cutbacks another blow to Magna

Chrysler LLC's latest restructuring blow is landing in St. Louis, and the impact will be felt by auto parts giant Magna International Inc.

Comment?

Related Topix: Canada, Town and Country, MO, Manufacturing, Automakers, Chrysler

Mon Jun 30, 2008

Seeking Alpha

Magna International: Slumping SUV and Pickup Sales Negatively Affect Earnings

RBC Capital Markets analyst Nick Morton has cut his valuation, earnings per share estimates for Magna International Inc.

Comment?

Related Topix: Manufacturing, Automakers

Sun Jun 29, 2008

BusinessWeek

S&P Picks and Pans: UPS, Kodak, UAL, NYSE EuroNext, Magna International

S&P LOWERS RECOMMENDATION ON SHARES OF UNITED PARCEL TO HOLD FROM BUY : UPS cuts second quarter guidance to $0.83-$0.88 from $0.97-$1.04, citing fuel prices, which have reduced package demand and led to a mix ...

Comment?

Related Topix: Financial Markets, Manufacturing, Automakers

Fri Jun 27, 2008

CBC News

Magna shares plummet to lowest level in seven years as auto industry struggles

Shares in Magna International Inc. crumbled to their lowest level in seven years on Thursday as higher gas prices and dismal auto sales numbers left the company's stock struggling.

Comment?

Related Topix: Auto Dealers, Manufacturing, Automakers

Thu Jun 26, 2008

Bloomberg.com

Porsche Picks Magna for Boxster Work Production Over Finland's Metso Unit

Porsche SE , the maker of the 911 sports car, said a unit of Magna International Inc.

Comment?

Related Topix: Manufacturing, Automakers, World News, Austria, Porsche, Porsche 911, Porsche Boxster,

Tue Jun 24, 2008

Detroit Free Press

CEO of Plastech could benefit in sale

The founder of Plastech Engineered Products Inc. could be paid more than $9 million when her company is sold.

Comment?

Related Topix: Rubber-Plastics, Industrial Machines, Johnson Controls, Manufacturing, Automakers, Textiles

Mon Jun 23, 2008

St. Thomas Times Journal

Formet cuts 400

St. Thomas's economy was dealt a setback Wednesday as Formet Industries announced a permanent layoff of 400 salaried and hourly employees, effective Sept.

Comment?

Related Topix: Chevrolet Silverado, Chevrolet, Manufacturing, Automakers

Sat Jun 21, 2008

The Post-Standard

Stanton elected union president at New Process Gear

Stanton was head of the union when Daimler-Chrysler sold the plant to Canadian auto parts maker Magna International Inc.

Comment?

Related Topix: Manufacturing, Automakers

Thu Jun 19, 2008

Bloomberg.com

Magna to Eliminate 400 Jobs in Ontario on Lower Demand for Its Truck Parts

Magna International Inc. , North America's largest auto-parts maker, will eliminate about 400 hourly and salaried jobs at an Ontario plant because of a decline in demand for large trucks.

Comment?

Related Topix: Manufacturing, Automakers, Woodcliff Lake, NJ

Wed Jun 18, 2008

CBC News

Magna cutting 400 St. Thomas jobs

Three-month TSX trading in Magna A shares. Magna International Inc. will slash 400 jobs at its plant in St.

Comment?

Related Topix: Manufacturing, Automakers

Tue Jun 17, 2008

GAM

Magna eyes Plastech, deal could boost sales to U.S. auto makers

Magna International Inc. has bid $24.7-million to take over the exteriors business of bankrupt auto supplier Plastech Engineered Products Inc.

Comment?

Related Topix: Manufacturing, Automakers

Thu Jun 12, 2008

The Courier-Journal

At the Water Cooler

A technical problem during a conference call between Brown-Forman Corp. officials and financial analysts this past week gave both sides an opportunity to offer a wisecrack.

Comment?

Related Topix: Gaming, Magna Entertainment, Manufacturing, Automakers

Tue Jun 10, 2008

Automotive

u-blox, paragon and Magna Introduce Rear-View Mirror Navigator

The MirrorPilot Navigator is a fully functional GPS navigation system, including GPS receiver, antenna and speaker built into a self-dimming rear-view mirror.

Comment?

Related Topix: Electronic, Navigator, Science / Technology, GPS, Manufacturing, Automakers

Mon Jun 09, 2008

Futureoftheunion.com

Business Press Advises CAW Leaders On Containing Rank-And-File Anger

The right-wing Canadian newspaper the Financial Post recently published an article by columnist Nicholas Van Praet entitled "Has Canadian Labour Given Up the Fight?" It nervously traced the growing discontent ...

Comment?

Related Topix: Canada, Automakers, Manufacturing

Sat Jun 07, 2008

The Toronto Star

Magna's Russian revolution

"Jay Charles arrived in this gritty industrial city in late December, but there's been no time to see the red-brick kremyl or other sights here on the Volga, 475 kilometres southeast of Moscow.

Comment?

Related Topix: Oldsmobile, Oldsmobile Aurora, Gaming, Magna Entertainment, Manufacturing, Automakers

Thu Jun 05, 2008

Globe and Mail

Why Frank Stronach and his money got left at the altar

This week we learn that a billionaire can't build a church just because he wants to.

Comment?

Related Topix: Wedding, Manufacturing, Automakers

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