Magna International’s forecast for a 15.7% increase for global production sales may be an early sign of an economic turnaround for manufacturing.
In its financial outlook annoucement on January 13, Magna states that its total global production sales (includes North America, Europe, Asia and the rest of the world) in 2016 will increase $30.3 billiion to $31.6 billion. For North America alone, it’s forecasting production sales growth of $19.2 billion to $19.8 billion.
Don Walker, Magna’s CEO stated in a press release that “Magna has a tremendous amount of growth ahead, reflecting new business awards as well as recently completed acquisitions, including Getrag. We are highly focused on ensuring that we deliver strong returns on this sales growth.”