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| clubgwagen.com Elite Veteran Date registered: Apr 2006 Location: gwagenpreserve.com Vehicle(s): 300GE Cabriolet Posts: 736  | News from Frank Stronach of Magna Corp. Magna confirms role in DC dealings (perhaps worried about contracts that make up 24% of biz) http://phx.corporate-ir.net/phoenix.zhtml?c=86334&p=irol-newsArticl... AURORA, ON, April 13 /PRNewswire-FirstCall/ - Magna International Inc. (TSX: MG.A, MG.B; NYSE: MGA) today confirmed that it continues to review potential alternatives regarding the future of the Chrysler Group. Magna has previously commented that, as DaimlerChrysler is one of its largest customers, Magna is seeking a full understanding of the situation regarding the future of the Chrysler Group, and any constructive role Magna may play in a potential transaction. There is no assurance that any transaction will result from Magna's current involvement. The previous discussion may contain statements that, to the extent that they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or economic performance, or the assumptions underlying any of the foregoing. We use words such as "may", "would", "could", "will", "likely", "expect", "anticipate", "believe", "intend", "plan", "forecast", "project", "estimate" and similar expressions to identify forward-looking statements. Any such forward-looking statements are based on assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, assumptions and uncertainties. These risks, assumptions and uncertainties include, but are not limited to, the impact of: declining production volumes and changes in consumer demand for vehicles; a reduction in the production volumes of certain vehicles, such as certain light trucks; our ability to offset increases in the cost of commodities, such as steel and resins, as well as energy prices; fluctuations in relative currency values; our ability to offset price concessions demanded by our customers; our dependence on outsourcing by our customers; our ability to compete with suppliers with operations in low cost countries; changes in our mix of earnings between jurisdictions with lower tax rates and those with higher tax rates, as well as our ability to fully benefit tax losses; other potential tax exposures; the financial distress of some of our suppliers and customers; the inability of our customers to meet their financial obligations to us; our ability to fully recover pre-production expenses; warranty and recall costs; the termination by our customers of any material contracts; product liability claims in excess of our insurance coverage; expenses related to the restructuring and rationalization of some of our operations; impairment charges; our ability to successfully identify, complete and integrate acquisitions; risks associated with new program launches; legal claims against us; risks of conducting business in foreign countries; unionization activities at our facilities; work stoppages and labour relations disputes; changes in laws and governmental regulations; costs associated with compliance with environmental laws and regulations; potential conflicts of interest involving our controlling shareholder, the Stronach Trust; and other factors set out in our Annual Information Form filed with securities commissions in Canada and our annual report on Form 40-F filed with the United States Securities and Exchange Commission, and subsequent filings. In evaluating forward-looking statements, readers should specifically consider the various factors which could cause actual events or results to differ materially from those indicated by such forward-looking statements. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise. SOURCE Magna International Inc. CONTACT: Vincent J. Galifi, Executive Vice-President and Chief Financial Officer at (905) 726-7100 | ||
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| elevatorbernie Expert Date registered: Aug 2006 Location: Vancouver B.C. Canada Vehicle(s): 1989 280GE Posts: 1347  | RE: News from Frank Stronach of Magna Corp. His daughter announced this week that she would be leaving politics and returning to Magna Corp. | ||
| #70064 - in reply to #69989 |
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| nadd Expert Date registered: Apr 2006 Location: UAE, Dubai Vehicle(s): G500 2016 LHD, numerous Chevys Posts: 1285 | Re: News from Frank Stronach of Magna Corp. Update: Cerebrus, a pvt equity firm, has bought Chrysler. Hope MB can concentrate on their own problems now... http://www.autocarmag.com/News/NewsArticle/AllCars/225564/ | ||
| #74285 - in reply to #69989 |
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