10:34 AM EST - Magna International : Announced a joint venture with Altran Technologies SA. Magna’s complete vehicle engineering and manufacturing group and Altran, a global leader in engineering and R&D services, each hold 50% of the joint-venture company. The joint venture – located in Casablanca, Morocco, under the name MG2 – brings together Magna’s complete vehicle know-how and process competence and Altran’s strengths as a locally established partner. Approximately 500 engineers from the two companies will initially staff the joint venture. Magna International
shares T.MG are trading down $0.22 at $69.14.
