German Antitrust Authority attends at Magna Operating Division in Germany
AURORA, ON, Sept. 24, 2013 /PRNewswire/ - Magna International Inc. (TSX: MG) (NYSE: MGA) today announced that the Bundeskartellamt, the German Federal Cartel Office, has attended at a Magna operating division in Germany under the authority of a search warrant, in connection with an ongoing antitrust investigation of the automobile textile coverings and components industry (particularly trunk linings).
Magna's policy is to comply with all applicable laws, including antitrust and competition laws, and we intend to cooperate with the German Federal Cartel Office.
We are a leading global automotive supplier with 314 manufacturing operations and 89 product development, engineering and sales centres in 29 countries. Our 123,000 employees are focused on delivering superior value to our customers through innovative processes and World Class Manufacturing. Our product capabilities include producing body, chassis, interior, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as complete vehicle engineering and contract manufacturing. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.
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SOURCE Magna International Inc.