Magna announces outlook for 2016

Magna International Inc. has published its financial outlook for 2016 and sales expectations for 2018. All amounts are in U.S. dollars.

Magna says that in this outlook it has assumed no material unannounced acquisitions or divestitures. In addition, it has assumed that foreign exchange rates for the most common currencies in which it conducts business relative to its U.S. dollar reporting currency will approximate year end 2015 rates.

“Magna has a tremendous amount of growth ahead, reflecting new business awards as well as recently completed acquisitions, including Getrag,” commented Don Walker, Magna’s CEO. “We are highly focused on ensuring that we deliver strong returns on this sales growth.”

www.magna.com