December 28, 2014 3:09 AM ET

Auto Components

Company Overview of Magna Powertrain Inc.

Company Overview

Magna Powertrain Inc. designs, develops, and manufactures automotive systems, assemblies, modules, and components for original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America, and Africa. It offers automotive interior systems; seating systems; closure systems; metal body and chassis systems; mirror systems; exterior systems; roof systems; electronic systems; powertrain systems; and vehicle engineering and assembly. Magna Powertrain Inc. was formerly known as Magna Drivetrain, Inc. and changed its name to Magna Powertrain Inc. in 2005. The company was founded in 1988 and is headquartered in Troy, Michigan with a powertrain facility in China. Magn...

1870 Technology Drive

Troy, MI 48083

United States

Founded in 1988

Phone:

248-680-4900

Fax:

248-680-4924

Key Executives for Magna Powertrain Inc.

President
President of North America Operations
Age: 89
President of Magna International Inc
President of Europe Operations
Age: 51
President of Asia Operations
Compensation as of Fiscal Year 2014.

Magna Powertrain Inc. Key Developments

Magna International Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2014

Magna International Inc. reported financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company posted sales of $8.82 billion, an increase of 6% from the third quarter of 2013. During the third quarter of 2014, income from operations before income taxes was $589 million, net income attributable to the company was $470 million and diluted earnings per share were $2.19, increases of $198 million, $151 million and $0.80 respectively, each compared to the third quarter of 2013. Excluding other expense, after tax for the third quarters of 2014 and 2013, income from operations before income taxes, net income attributable to the company and diluted earnings per share increased $157 million, $124 million and $0.69 respectively, each compared to the third quarter of 2013. During the third quarter ended September 30, 2014, the company generated cash from operations of $737 million before changes in operating assets and liabilities, and invested $18 million in operating assets and liabilities. Total investment activities for the third quarter of 2014 were $365 million, including $315 million in fixed asset additions and a $50 million increase in investments and other assets. The company posted sales of $27.25 billion for the nine months ended September 30, 2014, an increase of 6% from the nine months ended September 30, 2013. This higher sales level reflected increases in North American, European and Asian production sales, complete vehicle assembly sales and tooling, engineering and other sales partially offset by a decrease in Rest of World production sales, in each case relative to the first nine months of 2013.

Magna Powertrain to Supply AWD System for 2015 Hyundai Genesis

Magna Powertrain will be supplying a new all-wheel-drive (AWD) system for Hyundai's 2015 model year Genesis sedan. The component supplier reveals that the new AWD system, which is known as the HTRAC, has been developed as a multi-mode system, providing an electronic, variable-torque-split clutch with active torque control between the front and rear axles. The system deploys a newly developed right-hand drop version of Magna Powertrain's active transfer case, which enabled Hyundai to overcome challenging underbody packaging constraints. It further adds that HTRAC offers driver-selectable modes that adapt the AWD system performance. Normal and Eco modes were said to provide more traction in all weather conditions, while the Sport setting is claimed to offer a more agile feel by increasing the amount of torque sent to the rear wheels. In an effort to maximise the efficiency, the system is said to direct available torque to the rear wheels during steady-state highway cruising, which is expected to improve fuel economy and noise, vibration, and harshness levels.

Magna Powertrain Opens Powertrain Plant in China

Magna Powertrain has opened a new powertrain facility in China. The 13,500-square-metre plant will employ 400 staff at full production, and will produce rear-axle-drive modules and power take-off units for Volkswagen and Audi models locally produced in China. The plant in Tianjin is the sixth Chinese facility for Magna Powertrain and the 26th manufacturing facility for the Magna International group in China.

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