“While we recorded significant non-cash impairment charges this past quarter related to our investment in Getrag’s equity accounted joint ventures, we expect further strong growth in Getrag’s wholly-owned operations. For example we recently announced a business award from BMW, the largest production order for transmission technologies in Magna’s history for dual-clutch transmissions, including hybrid variants.”
“While we recorded significant non-cash impairment charges this past quarter related to our investment in Getrag’s equity accounted joint ventures, we expect further strong growth in Getrag’s wholly-owned operations. For example we recently announced a business award from BMW, the largest production order for transmission technologies in Magna’s history for dual-clutch transmissions, including hybrid variants.”