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About Magna Steyr L.L.C.

Through its various subsidiaries and divisions, Magna International makes just about everything needed to put together a motor vehicle. Besides being one of the world's largest automotive suppliers, Magna also considers itself a technology company delivering mobility solutions. The company makes body, exteriors and chassis, powertrain, active driver assistance, electronics, mechatronics, seating systems, roofing, and lighting systems and mirrors. Operations in North America and Europe represent nearly 95% of total revenues.


The company, based in Ontario, Canada, operates segments based on four global, product-oriented operating segments: Body Exteriors & Structures (accounts for over 40% of the company's total sales), Power & Vision (nearly 30%), Complete Vehicles (more than 15%), and Seating Systems (around 15%).

The company's operating results are primarily dependent on the levels of North American, European, Chinese car and light truck production by the customers. While Magna International supply systems and components to every major original equipment manufacturer, it do not supply systems and components for every vehicle, nor is the value of the content consistent from one vehicle to the next.

Geographic Reach

Based on Ontario, Canada, Magna boasts over 345 manufacturing facilities and roughly 95 product development, engineering, and sales centers in more than 25 countries Its operations in North America generates about 50% of its total sales, around 45% were produced in Europe, Asia pacific accounts for some 5% and the rest of the world for the remaining.

Sales and Marketing

A significant majority of Magna International's sales are to six customers: General Motors (generates around 15% of sales), BMW (around 15%), Ford (nearly 15%), Fiat Chrysler (roughly 15%), Daimler (more than 10%), and Volkswagen (some 10%). Other customer accounts for the remaining nearly 25% of its sales.

Financial Performance

Total sales decreased 3% to $39.4 billion in 2019, compared to $40.8 billion in 2018. The Company's sales in 2019 were negatively impacted by, among other factors, the weakening of a number of currencies against the U.S. dollar, the divestiture of their Fluid Pressure & Controls [''FP&C''] business in the first quarter of 2019 and the impact of the labour strike at GM.

Net income attributable to Magna International Inc. decreased $531 million to $1.8 billion for 2019 compared to $2.3 billion for 2018, as a result of a decrease in income from operations before income taxes of $728 million, partially offset by a loss attributable to non-controlling interests of $133 million in 2019 compared to income attributable to non-controlling interests of $36 million in 2018, and a decrease in income taxes of $28 million.

Cash held by the company at the end of 2019 increased by $590 million to $1.4 billion compared to $802 million in the prior year. Cash provided by operations was $4.0 billion, while cash used for investing and financing activities were $434 million and $2.9 billion, respectively


Magna's capital strategy is to maintain a strong balance sheet, ample liquidity and high investment-grade credit ratings. In December 31, 2019, the company has over $4 billion of available liquidity, between cash and credit lines. This strategy allows the company to invest prudently for growth through organic opportunities, innovation spending and acquisitions that fit their strategy, as well as to return capital to shareholders. It also leaves them well-positioned in times of economic downturn.

Aligned with Magna's customer, product and geographic strategy, their innovation approach focuses on three key trends:

Driver Assistance: Creating solutions that improve safety and provide a more comfortable driving experience. The company's technologies give drivers active guidance with a 360° view of their environment with the ability to detect various objects and predict their dynamic behavior around the vehicle and on its path.

Electrification: Developing powertrain innovations that are both modular and scalable – serving as building blocks to provide competitive solutions to automakers facing electric/hybrid powertrain proliferation.

Smart Mobility: Accommodating a variety of new mobility use cases like enhancing the occupant experience by making seats more flexible and reconfigurable.

Mergers and Acquisitions

In 2019, Magna has completed the acquisition of VIZA Geca SL, a Spain-based supplier of seat structures and related systems. The transaction was made to further enhance Magna's capabilities in future-ready seating solutions that enable added functionality which starts with the streat structure itself. The terms of this acquisition were not disclosed.

Company Background

Magna International has historically expanded its product lines through acquisitions of other auto parts manufacturers. In early 2011, Magna Seating acquired Germany-based Vogelsitze GmbH, which made seats for buses and passenger trains. In 2012, Magna obtained Verwaltungs GmbH, a maker of automotive vacuum, engine, and transmission pumps with two facilities in Germany and one in each of China and Bulgaria. Also in 2012, to strengthen its automotive pump operations, Magna purchased the remaining 50% interest it didn't already own of STT Technologies, which made transmission and engine related pumps for the North American market.

Magna Steyr L.L.C.

1965 Research Dr Ste 100
Troy, MI 48083-2137
Phone: 1 (248) 740-0214

Firm Stats

Employer Type: Privately Owned
Mbr: Michael J Scott
Employees (This Location): 170
Employees (All Locations): 170

Major Office Locations

Troy, MI