Business, Economics, Education, Entrepreneurs,
Environment, Science and Technology
|
|
|
|
____________________
Manufacturing 2008
Magna announces outlook
AURORA - Magna International Inc. announced today its financial outlook for 2008. For the full year 2008, Magna expects consolidated sales to be between $24.9 billion and $26.2 billion, based on full year 2008 light vehicle production volumes of approximately 14.4 million units in North America and approximately 15.6 million units in Europe. Full year 2008 average dollar content per vehicle is expected to be between $855 and $885 in North America and between $440 and $465 in Europe. We expect full year 2008 complete vehicle assembly sales to be between $3.6 billion and $3.9 billion.
In addition, we expect that full year 2008 spending for fixed assets will
be in the range of $875 million to $925 million. This amount reflects
continuing investment to support new and replacement business in our
traditional markets as well as investment to expand into high-growth emerging
markets, specifically Russia and various Asian countries.
In this 2008 outlook we have assumed no significant acquisitions or
divestitures, and no significant labour disruptions in our principal markets.
In addition, we have assumed that foreign exchange rates for the most common
currencies in which we conduct business relative to our U.S. dollar reporting
currency will approximate year end 2007 rates.
We are the most diversified automotive supplier in the world. We design,
develop and manufacture automotive systems, assemblies, modules and
components, and engineer and assemble complete vehicles, primarily for sale to
original equipment manufacturers of cars and light trucks in North America,
Europe, Asia, South America and Africa. Our capabilities include the design,
engineering, testing and manufacture of automotive interior systems; seating
systems; closure systems; metal body and chassis systems; vision systems;
electronic systems; exterior systems; powertrain systems; roof systems; as
well as complete vehicle engineering and assembly.
We have approximately 83,000 employees in 240 manufacturing operations
and 62 product development and engineering centres in 23 countries.
All amounts are in U.S. dollars
|
|
|
| © Copyright 2008/Exchange Morning Post/Exchange Business Communications Inc. |
