King City Municipal Council

: We have been exploring the concept of relocating all of our Magna Global & Canadian family corporate and group office operations under one roof, Fuerst wrote, according to Toronto Star. We have progressed to the point where we made a formal rezoning application submission to King City Municipal Council. The move severs another link with Magna high-flying founder and former chairman, Frank Stronach, who left with a $1 billion payout in 2011, and raises questions about the future of the unique property Magna International plans to move into a new facility in nearby King City, spokesperson Tracy Fuerst wrote in an email response to a request for information from The Star. The company is proposing to build a 200,000-sq.-ft. office building, which will also contain research and development facilities. About 400 will come from the Aurora headquarters. The building will initially house more than 625 employees. (www.immigrantscanada.com). As reported in the news.