Automotive Industry

Valmet beats Magna, Boxster stays.

Automotive News Europe, December, 2001 by Ostle, Dorothee

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STUTTGART, Germany - Porsche has renewed its car assembly contract with Valmet of Finland despite a late bid by Magna-Steyr of Austria to win the business.

Valmet will continue to build the Porsche Boxster, plus the next-generation model, until at least 2007.

``Even if there had been a financially attractive offer by Magna, we would have had objections about moving the Boxster there," a senior Porsche manager said.

``When the Magna talks leaked out, emotions in Austria boiled over with comments like, `Porsche heads back home.' We wanted to avoid that hype."

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Automotive Industry

Valmet beats Magna, Boxster stays.

Automotive News Europe, December, 2001 by Ostle, Dorothee

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