Magna Corporation

For the manufacturer of auto parts based in Canada, see Magna International.

Magna Corporation was a publicly-held company in Flowood, Mississippi, U.S.A. that served as a holding company. Its primary divisions were Mississippi Steel and Magna American Mississippi Steel was Mississippi's first steel manufacturer beginning operations in 1957. Magna American built garden tillers and other items, as well as manufacturing the Amphicat in Raymond, Mississippi.

In 1985, the United States Securities and Exchange Commission sued former company president Wesley A. Caldwell, Jr., of Brandon, Mississippi, claiming that he had received benefits from the company "without review and approval" and violated the Securities Exchange Act of 1934.^[1]

References

1. ^ SEC News Digest, 07-31-1985