Magna International Inc., the world's most diversified supplier of automotive products, announced that its 2007 sales were $26.1 billion, an increase of 8% over 2006. Continued sales growth provided Magna with the opportunity to solidly develop its business operations, consolidate and enhance its leading position in the highly competitive auto parts industry. In 2007, despite North America’s low vehicle production, as the world’s fourth-largest auto parts supplier, Magna International’s financial data including operating surplus, net surplus, and diluted earnings per share show that the company still achieved Satisfactory performance. Magna International stated: “In 2007, sales of components, molds, and engineering in North America and Europe increased significantly despite the sales decline in the Group’s vehicle assembly business. The insufficiency of the whole vehicle business has made great progress. In 2007, in addition to its strong sales performance, Magna International has also made significant achievements in other areas, including a series of important awards from major customers such as General Motors, Ford Motor, Toyota Motor, and Honda Motor Company. Issued, including the most important business partner award, best new business partner award, and best supplier award. This year, Magna International continued to focus on the development of global business. In addition to the traditional North American and Western European markets, it also left a manufacturing footprint in other countries in the world, and achieved 53% of product sales growth in these markets. In fact, the increase in sales in other countries around the world is significant to Magna International. Because in the future development of the global automotive industry, the main emerging markets will be in Asia, Russia, and parts of Eastern Europe. Magna International provides design, development, and production of automotive systems, accessories, components and other products for the global vehicle manufacturing company and assembly of the vehicle. Driven by gratifying sales growth in 2007, the company expects to consolidate its sales from $24.9 billion to $26.2 billion in the next 2008. About Magna International Flux Cored Hardfacing Welding Wire
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Magna is the world's most diversified supplier of automotive parts, and has long been dedicated to the design, development and manufacture of automotive systems, assemblies, modules and components. In North America, Europe, Asia and South America, we provide professional services for the production of original equipment and assembly of complete vehicle systems for cars and light trucks. Especially in automotive interiors and lock systems, metal body and frame systems, interior and exterior mirrors and engineering glass systems, exterior systems (including front and rear body molds, plastic bodies, exterior trims and other systems), various power and transmissions The system, as well as the entire vehicle engineering and assembly system, has professional design, development, testing capabilities and first-class manufacturing levels. To date, Magna has established 240 production sites, 62 R&D centers and 83,000 employees worldwide.
November 03, 2023