The strike will also hit consolidated margins by about 30 basis points, Magna said on a post-earnings conference call.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)
Canada's auto parts maker Magna International Inc on Friday said a labor 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.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila)
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5d. change
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Capi.
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120.1 EUR | +1.09% | -0.91% | 69.58B | ||
66.9 CAD | +0.54% | +0.80% | 13.95B | ||
45.88 USD | +0.57% | +8.43% | 52.02B | ||