Magna International, a major Canadian manufacturer of automotive parts, has sold its assets in Russia for $15 million. writer “Kommersant”.
At least some of Magna’s assets in Russia were acquired by E-mobile, a company unknown to the market. In particular, Canadian manufacturer Magna Seating Rus, Piterform, Magna St. Petersburg and Magna Seating Nizhny Novgorod were transferred to him.
Piterform receives about 88% of its revenue from St. obtained from cooperation with the Korean Hyundai factory located in St. Petersburg. Another “daughter” of the Canadian company “Magna Automotive Rus”, which produces plastic parts, also remains under the control of Magna.
A loss of $15 million was recorded in Magna’s second-quarter financial statements due to the departure from Russia. The company recorded an additional $376 million loss in the second quarter of 2022 due to the cessation of production in Russia.
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