Magna will become a stronger competitor for development and design if it buys Pininfarina
By Andrew, 25 Nov, 2010. 0 Comments
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Executives say that Magna International Inc. would become a stronger competitor for development and design jobs if it buys Pininfarina S.p.A., a car engineering and styling firm that has been struggling financially. In documents disclosed Nov. 12 as part of Pininfarina's third-quarter financial results, an ownership change could happen as early as Dec. 31.
Sources recently told Automotive News Europe that Magna is interested in Pininfarina. A vice president at Magna's European unit, Dieter Althaus, told Bloomberg that acquiring Pininfarina would also give Magna "additional competence on development affairs."
He says that Magna is considerably engaged in engineering and that's where design and technology also play a role. Paolo Tumminelli, CEO of Goodbrands GmbH, a Cologne, Germany-based brand and marketing consultancy says that Magna needs design competence and Pininfarina has top staff. [via autonews - sub. required]
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