In October 2014, Techform was acquired by a subsidiary of Magna. The acquisition combines Techform's product technology and processing expertise with Magna Closures’ system integration, global footprint and world class manufacturing capabilities.
TECHFORM GROUP OF COMPANIES
Techform Group of Companies ("Techform") designs and manufactures wire formed and stamped metal components and assemblies for automotive vehicle manufacturers and their tier one suppliers. Products include hinges, torsion rods, child restraint systems, tailgate lift assist mechanisms, door lock rods, exhaust wire form hanger systems, and other metal formed components and assemblies. Techform employs approximately 490 associates at its facilities in Penetanguishene, Ontario; Portland, Tennessee; and Hefei, Anhui China.
MAGNA INTERNATIONAL INC.
Magna International Inc. ("Magna") (TSE: MG and NYSE: MGA) is a leading global automotive supplier with 317 manufacturing operations, 83 product development, engineering and sales centers, and 130,000 employees in 29 countries. Magna’s product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing.