Magna aims to expand in Russia.(Suppliers)

Automotive News Europe,  May, 2007  

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Byline: Robert Sherefkin

Frank Stronach did it his way for 50 years at the helm of Magna International.

Now he's selling a chunk of the world's third-largest auto partsmaker - a company the rough-hewn Austrian started in his garage near here - to a Russian billionaire as part of a plan to grow quickly in Russia.

"We will be a leader with the Russian automakers," he told shareholders at the company's annual meeting here on Thursday, May 10. "And we will be in an excellent position when other automakers build in Russia."

Magna has tied its fortunes to ...

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