Leftlane (Free subscription) | 19/11/2009
Following its cancelled sale of Opel to Canada’s Magna International, General Motors will present its turnaround plan for the ailing German car maker next month. Several European countries – including Germany and Spain – have requested GM to explain its plans for Opel going forward. Although GM’s turnaround plan for Opel will include slashing production [...]
PR News Wire (Free subscription) | 16/11/2009
DETROIT, Nov. 16 /PRNewswire-USNewswire/ -- The SAE 2010 World Congress will be reengineered with a sharper focus on technical and innovative content when it convenes April 13-15, 2010, at Cobo Center in Detroit. Host Company for the event is Ford Motor Company and the Tier One Strategic Partner is Magna International Inc.
Just Auto (Free subscription) | 13/11/2009
European carmakers have welcomed General Motors' decision to hang on its European Opel and Vauxhall brands rather than sell them to the consortium led by Canadian supplier Magna International and Russia's Sberbank.
eGMCarTech (Free subscription) | 12/11/2009
General Motors CEO Fritz Henderson was hanging out in Germany earlier this week in an effort to repair relations after the Detroit automaker announced last week that it will keep Opel and restructure it, putting a surprising end to plans to sell the brand to Magna International. Henderson has previously said that GM could seek assistance from [...]
The Economist (Free subscription) | 12/11/2009
GM’s decision to keep Opel has left Germany fuming AFTER General Motors’ dramatic U-turn on November 3rd over the sale of its European subsidiary, Opel/Vauxhall, its chief executive, Fritz Henderson, came to Germany this week to begin repairing relations with Angela Merkel’s government and with the country’s angry unions. Both have little option other than to come to terms...
Autoblog (Free subscription) | 11/11/2009
Filed under: Crossover , Mini , Rumormill Mini Countryman concept - Click above for high-res image gallery A couple weeks back, we told you that the unveiling of the production Mini Countryman may be delayed from the Detroit Auto Show in January to the Geneva Motor Show in March. The reasoning behind the move was reportedly due to the fact that Countryman production couldn't begin at Magna International's...
Market Wire (Free subscription) | 11/11/2009
NEW DELHI, INDIA (MARKET WIRE) Wallstsense.com is an online community with a dedicated team of analysts who are providing free in-depth research on North American equities. Our analysts have issued complimentary analysis on the following six companies: Magna International Inc. (NYSE: MGA), Taubman Centers Inc. (NYSE: TCO), Telefonos de Mexico S.A.B. de C.V. (NYSE: TMX), New Alliance Bancshares Inc....
WorldCarFans.com (Free subscription) | 09/11/2009
While details are limited, it appears Forster and GM management clashed over the much-mangled deal to sell Opel to a joint-venture lead by Magna International.
Autoblog (Free subscription) | 09/11/2009
Filed under: Hirings/Firings/Layoffs , Jaguar , Land Rover , Opel , Rumormill It appears that outgoing Opel chief Carl-Peter Forster may have already lined up a new gig for himself. According to The Times of London , Forster will become an employee of Tata Motors and take the top job at Jaguar-Land Rover. If this appointment comes through, it will be something of a homecoming for Forster who was born...
Leftlane (Free subscription) | 09/11/2009
General Motors and Magna International aren’t exactly on the best terms now that the Detroit automaker has changed its mind about selling its German unit, Opel, to the Canadian supplier. But that’s not stopping GM from seeking a new, much smaller deal that would see it tying up with Magna and GAZ to produce cars [...]
eGMCarTech (Free subscription) | 09/11/2009
According to sources close to the matter, Carl-Peter Forster, who is leaving General Motors of Europe, may join Tata Motors. Forster’s decision to leave GM came after the Detroit automaker unexpectedly decided to keep Opel instead of selling majority share to Magna International. Forster had strongly advocated a sale to Magna and Russia’s Sberbank. Sources say [...]
eGMCarTech (Free subscription) | 07/11/2009
Earlier this week, General Motors surprised German official and labor unions by backing out of plans to sell Opel to Magna International and Russian bank Sberbank. CEO Fritz Henderson said that the Detroit automaker now hopes to get the European government to help it restructure Opel but could use some of its $50 billion it [...]
atHome Top Story (Free subscription) | 07/11/2009
Magna International's stock price shot up more than 14 per cent Friday in its biggest one-day jump in 18 years after posting a surprise quarterly profit.
American Power (Free subscription) | 07/11/2009
Publisher's Note: It is my pleasure once again to publish a guest essay from a reader, Bill Dawson. A U.S. citizen, Bill has lived in Austria since 2000. He blogs regularly about German History rather than contemporary politics, but he has his finger on the pulse of the German-language media and offers an interesting perspective from across the pond. ********** A story which involves a U.S. company...
atHome Top Story (Free subscription) | 06/11/2009
Shares of Magna International Inc. jumped more than 14 per cent in trading Friday after the auto parts company reported a third-quarter profit of $51 million and was reported to be involved in a new auto palant in Russia.
The 3 latest articles published by users on Magna International :
traimi | 29/09/2009
The hurdles are not over for the planned takeover of Magna International and Sberbank of General Motor’s Opel /Vauxhall segment. Sberbank, Russia’s biggest lender, is looking for a domestic carmaker to be its industrial partner.
traimi | 24/09/2009
In another case of a supplier transforming into a threat is Magna International’s takeover of Opel with Russian partner Sberbank . Volkswagen said that it will withdraw business from Magna if the takeover pushes through.
traimi | 13/09/2009
Finally, the verdict is in! General Motors sold a 55% stake in Vauxhall and Opel to Magna International and its Russian banking partner Sberbank. GM retains 35% of the company, while the remaining 10% will be held by an Opel employee trust fund.
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