Canada: Magna plans restructuring

摘要

CANADIAN automotive supplier Magna expects full-year 2007 revenue to come in between US$22.9bn and US$24.2bn, and has stated that the company is planning more restructuring as it adjusts production. "We have done a lot of restructuring over the last couple of years; we are going to continue to do some and there will most likely be some restructuring charges in the fourth quarter of 2006," Magna president Mark Hogan was quoted as saying by Canadian Press at an outlook conference in Detroit. The company did not provide further details of this planned restructuring.