BMW set to extend Magna production deal-paper

Thu Jan 30, 2014 3:41am EST
 
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VIENNA Jan 30 (Reuters) - German automaker BMW is set to extend its contract with Magna-Steyr in Austria to manufacture group vehicles, the Kleine Zeitung newspaper reported on Thursday.

Citing industry sources, it said BMW would sign a contract on Thursday to extend beyond 2016 the contract manufacturing accord but not assign Magna a particular model, instead reserving capacity for various models depending on demand.

It said the deal would likely cover more than 100,000 vehicles per year.

Magna did not immediately return a call seeking comment, while BMW declined comment pending an announcement.