OTTAWA–Magna International Inc. chairman Frank Stronach says he expects the company's newly acquired Opel unit in Germany to break even in three years and turn a profit in four years.
Stronach was in Ottawa today unveiling his company's new electric vehicle to federal MPs.
Stronach says he expects to turn money-losing Opel around financially and expand the German carmaker's markets to Russia and other parts of the world payday loan rates.
Magna, headquartered north of Toronto, is Canada's largest auto parts maker with 74,000 employees in 25 countries.
The company announced plans to buy control of Opel on the weekend from parent company General Motors Corp., with the help of the German government.
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