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FRANK STRONACH OF MAGNA INTERNATIONAL COMMENTS ON GM'S RESTRUCTURING

FRANK STRONACH OF MAGNA INTERNATIONAL COMMENTS ON GM'S RESTRUCTURING
 TORONTO, Dec. 19 /PRNewswire/ -- Magna International Inc. Chairman Frank Stronach commented today in regard to the announced restructuring at General Motors:
 "Nobody rejoices over the closing of factories, but from time to time corporations need to restructure in order to become more competitive. Magna fully appreciates and sympathizes with the plans announced by General Motors.
 "General Motors' plans are not expected to adversely affect Magna and, in fact, may present additional opportunities for our company due to Magna's very cost-effective operating structure."
 -0- 12/19/91
 /CONTACT: Paul Pivato, 416-477-7766, for Magna/ CO: Magna International Inc. ST: Ontario IN: AUT SU:


KD -- NY087 -- 4135 12/19/91 17:35 EST
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Publication:PR Newswire
Date:Dec 19, 1991
Words:119
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