MI Developments Inc. (MID) is the successor to the real estate business of Magna International Inc. (Magna), the most diversified automotive components supplier in the world. (www.magna.com)
Magna designs, develops and manufactures automotive systems, assemblies, modules and components, and engineers and assembles complete vehicle systems, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia and South America.
Magna is a public company, with its Class A Subordinate Voting Shares listed for trading on the New York Stock Exchange (MGA) and the Toronto Stock Exchange (MG.A) and its Class B Shares listed for trading on the Toronto Stock Exchange (MG.B).
MID began trading as a separate public company in August 2003 following our spin-off from Magna. Members of the Magna group of companies are our primary tenants, providing the majority of the annual real estate revenue generated by our income-producing properties.
Our foundation as part of the Magna group of companies and our strong financial underpinning establish a level of security and stability that our tenants and partners can trust. We are an organization with a history of measured growth, a dedication to excellence and a culture that promotes capital discipline and a focus on our customers' priorities. These attributes have helped us build more than great buildings - they have helped us build great relationships.
We are committed to strengthening our Magna relationship through being a proactive and responsive partner. Our goal is to position ourselves to grow with Magna, thereby expanding our core foundation of high quality industrial properties and increasing our geographic diversification.
