Magna International Inc Annual Shareholders Meeting Transcript
Welcome to the Magna International Inc. Annual Meeting. My name is Luke, and I will be your operator. (Operator Instructions) I will now turn the call over to William Young. William, please begin.
Good morning. The meeting will now come to order. As Chairman of Magna's Board of Directors, I welcome everyone participating in this virtual Annual Meeting of Shareholders of Magna International Inc. Before I turn the meeting over to the Corporate Secretary, to handle the legal formalities. I would like to make a few general comments on behalf of the Board. In spite of some challenges, the Board was pleased with Magna's performance in 2019. Magna continued to win important new business, a good example of being a contract for traditional and hybrid dual-clutch transmissions for BMW, the largest transmission contract in Magna's history. The company also continued to execute its strategy, including through acquisitions supporting its seating and lighting businesses, sale of the fluid pressure
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