Magna International News

A A A' General Motors Co. on Monday asked European governments to help pay most of the euro3.3 billion it needs to restructure its struggling European operations.

General Motors cast around for fresh options for Sweden's loss-making Saab on Wednesday after the collapse of its sale added another dimension to tortuous European restructuring plans.

Magna International Inc. will supply major structural components for General Motor Co.'s next generation of full-size pickup trucks and sport-utility vehicles, securing the renewal of a key contract from its largest customer.

We never had any doubt that GM would continue to build body-on-frame trucks in the future, but with demand for SUVs shrinking quickly, some thought the body-on-frame SUV would soon be a thing of the pas t. Maybe not.

General Motors Co. is appealing to European governments to help finance a $5 billion restructuring for Adam Opel GmbH after deciding this month to keep the troubled German carmaker.

Cosma International, an operating unit of Magna International Inc. and a leading global automotive body and chassis systems supplier, announced today that it will supply the frame assembly for General Motors' next generation of full-size light-duty pickups and SUVs.

Magna International Inc. had some welcome news for recession-battered St. Thomas, Ont., on Monday, announcing that it has been chosen to supply frame assemblies for General Motors' next generation of full-size pickups and SUVs.

Germany warned fellow European governments on Monday against offering financial aid to General Motors Europe in exchange for job guarantees, hours ahead of a meeting in Brussels to discuss the future of the company.

Stocks discussed on the in-depth s ession of Jim Cramer's Mad Money TV Program, Friday November 20.

By Thomas Watson Thomas Watson is a senior writer with Canadian Business . Prior to joining the magazine, he was a financial journalist and feature writer at the National Post , where he focused on the technology, auto and steel industries.

General Motors raised union hopes that there could be fewer redundancies at Vauxhall now the US parent company has decided not to sell the historic car marque.

A judge has approved the sale of a 257-acre site in Dixon to a partnership controlled by horse racing executive Frank Stornach.

The Associated Press 1 comment German Chancellor Angela Merkel delivers her speech in the German Federal Parliament in Berlin, on... German Chancellor Angela Merkel delivers her speech in the German Federal Parliament in Berlin, on Tuesday, Nov.

BERLIN : General Motors will have to spend at least twice the three billion euros it is budgeting to turn around its European unit Opel/Vauxhall, a union chief predicts.

The comments came a day after GM's chairman said the company could pay for its European arm itself.

A senior German government official told General Motors Co. executives Wednesday that the U.S. automaker will have to cover the cost of restructuring its troubled German carmaker Adam Opel GmbH.

I have been reading press accounts of the GM decision to back out of the Opel/Vauxhall sale to the Magna /Sberbank consortium from various countries.

The reasoning behind the move was reportedly due to the fact that Countryman production couldn't begin at Magna International's Austrian assembly plant until assembly of the BMW X3 was moved from the Magna plant to Bimmer's facility in South Carolina.

Magna International Inc. reported a $51 million profit for the third quarter, after writing off part of the value of the of the New Process Gear plant in DeWitt.

Saving Opel could cost GM $8.5-billion A worker sweeps the street next to destroyed logo of German car manufacturer Opel at a former car dealer in Berlin.