Magna Expects Clearly Positive '11 EBIT For New Opel -Document
09 Juni 2009 - 3:25PM
Dow Jones News
Magna International Inc. (MGA) expects General Motors Corp.'s
(GMGMQ) German unit Adam Opel GmbH to report positive figures in
2011 after its planned takeover of the GM unit, according to a
Magna document seen by Dow Jones Newswires Tuesday.
"Our business plan expects clearly positive operating earnings
[earnings before interest and taxes] for 2011," the document of the
Austrian-Canadian car parts maker said.
Opel supervisory board chairman and president of GM in Europe,
Carl-Peter Forster had previously said he wants to make a profit
with Opel before 2013.
Magna has teamed up with Russian automaker OAO GAZ Group
(GAZA.RS) and state-controlled OAO Sberbank (SBER.RS) in a bid for
the Germany-based company and its U.K.-based sister brand,
Vauxhall.
Company Web site: www.magna.com; www.opel.de
-By Katharina Becker, Dow Jones Newswires, +49 69 29725 500,
katharina.becker@dowjones.com