Magna and Chrysler Sitting in a Tree

magna and chrysler sitting in a tree

In a magnanimous gesture, Canadian-based Magna International has offered to help Cerberus expand Chrysler's international operations. Magna, once the front runner to buy Chrysler, is expanding into Russia and wants to take Chrysler with them. Magna's president Mark Hogan told Reuters, "Chrysler has done a good job of establishing a distribution network in western Europe and to a lesser extent in eastern Europe. We can probably help them as we establish ourselves in Russia." Chrysler is moving production of their Euro-spec 300's from Magna's Graz, Austria facility to their own in Ontario, so Magna needs to keep their ties with the company somehow. You know– just in case Cerberus decides to sell something.

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  • Jthorner Jthorner on Aug 10, 2007

    Magna seems to want to be to the auto industry what Flextronics and Selectron are to the electronics industry, the go-to manufacturing partner.

  • Luther Luther on Aug 10, 2007

    Magna wants to build Jeeps in Russia(?) That would be a smart move.

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