Report: Magna looking to acquire Pininfarina
Pininfarina, the Italian design house responsible for numerous Ferraris, Alfa Romeos, Maseratis, Lancias, isn’t doing so well. Earlier this month, Pininfarina’s quarterly earnings report said that the company could be sold as early as Dec. 31.
Sources now tell Automotive News Europe that Canadian-Australian parts supplier Magna International Inc. is weighing options to by the design house.
Magna, which is always looking to strengthen its position as a global supplier of design, engineering and contract manufacturing, seems to be constantly looking to buy something in the automotive industry. It has even made bids to automakers… without success.
Magna failed to purchase Aston Martin from FoMoCo when the luxury sports car manufacturer was up for sale and most recently failed to acquire Opel from General Motors.
– By: Omar Rana
Source: Automotive News (Subscription Required)