Magna International opts to stay in Aurora following sale of golf course
Company abandons plans to relocate to King Township
June 25, 2020
Magna International is staying put, after all.
Just two weeks after Magna Golf Club in Aurora was sold to a Chinese-owned development firm named Trillyan Investment Limited, Magna International is announcing it will keep its headquarters in town.
The auto parts giant had said in 2015 it planned to pull up stakes in Aurora and move to King.
But the company is signing an extension of the lease at its Aurora location at 337 Magna Dr., just off Wellington Street East, Mayor Tom Mrakas and Magna said in statements issued June 24.
“Since opening its doors in 1997, Magna has been part of the fabric of Aurora," Mrakas said. "As the company considered its long-term plan for its headquarters, many options were explored.
“I was able to take part in those conversations and worked tirelessly to ensure that the strong relationship between Magna and the town was solidified. After careful consideration, the (Magna) executive team determined that Aurora remained as its ideal location to call home.”
The community is grateful to have the company as one of its premier corporate businesses, Mrakas added.
“Magna has helped Aurora maintain a high profile in the global economy and has been a significant contributor to our local community through events like the Magna Hoedown (cancelled this year because of the coronavirus pandemic) and programs such as Neighbourhood Network,” he said.
Magna CEO Don Walker thanked Mrakas for his efforts during the company’s review process.
“After an extensive evaluation, we felt it was in the best interest of our stakeholders to remain in the Aurora community,” he said.
The decision to stay in Aurora will come as a blow to King, which had been hoping to welcome the company to a 105-acre property at Jane Street and King Road.
At the time, Mayor Steve Pellegrini called the company’s decision to move to his municipality the best thing that ever happened to King.
He later called a delay in the move “a little disappointing” but remained hopeful Magna would still come to King.
Just two weeks earlier, it was learned the golf course has been sold, with the sale expected to be finalized in November.The real estate company had vowed to continue running the site as a golf course.