Brazilian competition regulator visited Magna’s offices
Authorities from Brazil's competition regulator visited Magna's offices there as part of anti-trust investigation
AURORA, Ont.—Canadian auto supplier Magna International Inc. says authorities from Brazil’s competition regulator visited the company’s offices there as part of an anti-trust investigation.
The auto parts supplier, headquartered in Aurora, Ont., north of Toronto, says Conselho Administrativo de Defesa Economica (CADE) officials visited its offices as part of an ongoing investigation, but didn’t provide details.
The company said it is cooperating with officials.
Magna has 10 manufacturing and assembly facilities in the South American country, as well as two engineering, product development and sales offices.
It employs more than 3,700 people in Brazil.
The company has 317 manufacturing facilities in 29 countries worldwide and employs more than 130,000 people.