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Magna May Withdraw from Austria

Published: November 5, 2012; 16:50 · (Vindobona)

The automotive group threatens to leave Austria. The wages would be too high, Magna Europe´s CEO Günther Apfalter says in an interview with “Kurier”.

Magna May Withdraw from Austria / Picture: © Reuters

This year, Magna´s sales in Europe will decrease by five to eight percent. Last year, Magna showed new record profits, however. Apfalter explains that the downward trend is not dramatic as the last years were highly volatile.

At the moment, about 40% of Magna´s sales are realized in Europe. From global point of view, the automobile industry is growing, Apfalter says. Until…

This article includes a total of 234 words.

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