Magna forecasts production sales to rise 15.7 pct in 2016

Wed Jan 13, 2016 7:16am EST
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Jan 13 (Reuters) - Canada's Magna International Inc said it expects sales from its auto parts manufacturing business to rise about 15.7 percent this year.

Magna said it expects total production sales from the business to rise to $30.3 billion-$31.6 billion in 2016 from its 2015 estimate of $26.3 billion-$27.2 billion.

The company said it expects $1.8 billion-$2.0 billion in capital spending in 2016. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Saumyadeb Chakrabarty)