UPDATE 2-Auto parts maker Magna gets boost from Europe, N.America demand

Fri Feb 26, 2016 11:36am EST
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* Q4 profit tops analysts estimates

* To use cash for acquisitions or share buybacks

* Sales up 6 pct, excluding US dollar impact

* Shares up 5.5 percent (Adds CEO comments, shares)

Feb 26 (Reuters) - Canadian auto parts maker Magna International Inc reported a much higher-than-expected quarterly profit as low gasoline prices boosted demand for vehicles in Europe and North America.

The company, whose shares were up about 5.5 percent at C$50.68, said it could make more acquisitions, failing which it could buy back more shares.

"It will be interesting to see what happens with the economy and what happens with valuations with public companies that translate into private companies," Chief Executive Donald Walker said in a post-earnings conference call on Friday.

U.S. auto sales were a record high in 2015, while sales in Europe have also been robust.

Magna, which bought German transmission parts maker Getrag to help automakers' needs for improved fuel efficiency, has a customer list that includes General Motors Co Volkswagen AG, BMW and Ford Motor Co.   Continued...