Magna, Chrysler deny Russian connection

Nov 12, 2007 | 02:16 PM | Michael Cowden

Canada's Magna International Inc. plans to build a $500-million plant in Russia to assemble cars made by Chrysler LLC, according to Russian media, but both Magna and Chrysler have disputed the reports.

The Aurora, Ontario-based auto assembler and parts maker dismissed the reports as "speculation," while a Chrysler spokesman said his company has nothing to do with the reported project.

The facility would make 150,000 cars per year and could eventually double its capacity, Russian media outlet Kommersant reported, citing an application filed with Russia's Ministry of Industry and Energy. Magna also signed a memorandum of understanding with Russia's Ministry of Economic Trade and Development, Kommersant said.....

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