MAGNA AUTO, EARNINGS, REVENUES JUMP 1ST SEMESTER

Toronto – The Canadian firm Magna has closed their 2nd trimester with net earnings of 293 million dollars. For the same period in 2009 Magna reported a loss of 205 million dollars. Revenues for the auto component company amount to 6.050 billion dollars, registering a upward trend of 63% compared to the 3.7 billion for the same period last year. For the first six months of 2010 Magna sales have amounted to 11.5 billion dollars (compared to 7.2 for the 1st semester of 2009) and earnings were 516 million compared to the 405 for the 1st semester of 2009. The company, which is the third largest company for auto components in the world, is expecting to reach proceeds between 22 and 23 billion dollars for the entire year. .