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September 11, 2009

OPEL AFTERMATH: Magna ‘firewalls’ to separate supplier and Opel

Magna will put in place “appropriate firewalls” to separate its parts business from its 55% stake in Opel and protect customers' “confidential and proprietary information”, chairman Frank Stronach has said.

Magna will put in place “appropriate firewalls” to separate its parts business from its 55% stake in Opel and protect customers’ “confidential and proprietary information”, chairman Frank Stronach has said.

The Canadian partsmaker said completion of the purchase remains “subject to finalisation of definitive agreements and other conditions, including government-backed financing and regulatory approvals”.

According to Reuters, some Magna customers including Volkswagen have expressed concern about the potential conflict of interest the deal poses as Magna continues to supply Opel rivals.

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