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Magna predicting $500 million hit from U.S. automaker strike


November 8, 2019  


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Canada’s auto parts maker Magna International Inc. on Friday said a labour strike at General Motors Co., its biggest customer, will potentially reduce full-year sales by about $500 million.

The strike will also hit consolidated margins by about 30 basis points, Magna said on a post-earnings conference call.

(Reuters)