Magna Corporation
Encyclopedia
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.
Flowood, Mississippi
Flowood is a city in Rankin County, Mississippi, United States. The population was 4,750 at the 2000 census. It is part of the Jackson Metropolitan Statistical Area.-Geography:Flowood is located at ....
, Mississippi
Mississippi
Mississippi is a U.S. state located in the Southern United States. Jackson is the state capital and largest city. The name of the state derives from the Mississippi River, which flows along its western boundary, whose name comes from the Ojibwe word misi-ziibi...
, U.S.A. that served as a holding company. Its primary divisions were Mississippi Steel
Mississippi Steel
Mississippi Steel Corporation was the first steel mill built in the state. It was in business from 1957 until 1985 when it was bought by Birmingham Steel Corporation...
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
Amphicat
The Amphicat was a six-wheel-drive, skid steer amphibious all-terrain vehicle manufactured in the late 1960s through the early 1970s by Mobility Unlimited Inc. of Auburn Hills, Michigan...
in Raymond, Mississippi
Raymond, Mississippi
Raymond is a city in Hinds County, Mississippi, United States. As of the 2000 census, the city population was 1,664. Raymond is one of the two county seats of Hinds County and is the home of the main campus of Hinds Community College....
.
In 1985, the United States Securities and Exchange Commission sued former company president Wesley A. Caldwell, Jr., of Brandon, Mississippi
Brandon, Mississippi
Brandon is a city in Rankin County, Mississippi, United States. The population was 16,436 at the 2000 census. It is the county seat of Rankin CountyBrandon is part of the Jackson Metropolitan Statistical Area.- History :...
, claiming that he had received benefits from the company "without review and approval" and violated the Securities Exchange Act of 1934.