A worker in the Magna plant in Puebla, Mexico on Jan. 22, 2015.Brett Gundlock/ Boreal Collectiv/The Globe and Mail
Auto parts maker Magna International Inc. is realigning its divisions along global product lines and will reveal sales and some earnings data for its four key segments for the first time.
The change will provide increased transparency for investors and ensure that the four divisions are structured to reflect how the auto industry is changing as autonomous driving and vehicle electrification develop, the Aurora, Ont.-based company said Tuesday.
"The changes we are making to our management structure will enhance our ability to innovate, by fostering greater collaboration and sharing of expertise across the company," Magna chief executive officer Don Walker said in a statement.
The four divisions are:
- Body Exteriors and Structures, which includes the Cosma metal-forming and structural components business;
- Power & Vision, which includes engines and transmissions as well as electronics;
- Seating Systems; which will consist of seat assembly operations and the parts that supply them;
- Complete Vehicles, which is the company’s contract vehicle assembly business in Steyr, Austria and engineering centres that support that business and vehicle development.