Magna reviewing options for Chrysler

04/13/07 - newratings.com

NEW YORK, April 13 (newratings.com) – Magna International Inc (MGA) Friday announced it was reviewing potential alternatives regarding Chrysler Group.

The Aurora, Ontario-based company said that since DaimlerChrysler, the parent company of Chrysler Group, is one of its largest customers, Magna International was "seeking a full understanding of the situation regarding the future of the Chrysler Group, and any constructive role Magna may play in a potential transaction." The auto parts giant added, however, that there is no assurance of any transaction resulting from Magna International’s present involvement.