Russia’s GAZ Group and Magna are in talks about launching a joint venture to produce aluminium automotive castings, Sergei Zanozin, CEO of GAZ Group, said during an industry conference in Egypt.
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According it an Itar-Tass report, GAZ Group and Magna already have an auto component joint venture while Russian Machines, which controls GAZ Group, holds about 40% of Canada-based Magna’s voting shares.
