MAGNA CAR PARTS DEAL PORSCHE ROOF TECHNOLOGY TAKEOVER EUROPEAN COMMISSION APPROVAL
February 1st, 2006
BY KEITH NUTHALL
THE PRESIDENT of Canadian auto manufacturer supplies giant Magna International has welcomed the European Commission's approval of its purchase of German roof system manufacturer CTS Fahrzeug-Dachsysteme GmbH (CTS) from sports car maker Porsche. Brussels has imposed no conditions on the deal, which it concluded would not harm competition in the European Union (EU). Speaking to wardsauto.com, Magna president Mark Hogan said he was pleased, but not surprised given the segment's competitive nature. Hogan said Magna would use the expertise commanded ...
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