CANADA: Magna plummets to Q2, H1 losses after sales fall
Opel bidder Magna International on Friday reported an operating loss of $237m (down $556m) and a net loss of $205m (off $432m) for the second quarter of 2009 after vehicle production declined 49% year on year to 1.8m units in North America and 28% to 3.1m units in Europe.
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