Magna International says that it expects to supply about $800 U.S. worth of every vehicle it supplies parts for in North America in 2007.
In addition, the company says that it expects an average of $375 to $400 of content to be by Magna for the European market. All figures in U.S. dollars.
Accordingly, the company says that it expects consolidated sales to be between $22.9 billion and $24.2 billion, based on full year 2007 light vehicle production volumes of approximately 15.5 million units in North America and approximately 15.6 million units in Europe.
The company expects full year 2007 complete vehicle assembly sales to be between $3.4 billion and $3.7 billion.
In addition, it expects that full year 2007 spending for fixed assets will be in the range of $850 million to $900 million.
The company says that its outlook does not assume any significant acquisitions or divestitures, and no significant labour disruptions in our principal markets. In addition, the company has assumed that foreign exchange rates for the most common currencies in which it conduct business relative to its U.S. dollar reporting currency will approximate year end 2006 rates.
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