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Magna Expects $27.1B In 2011 Revenue

Canadian auto parts supplier said Wednesday that it expects revenue of $25.6 billion to $27.1 billion, which would top analysts' expectations.

NEW YORK (AP) -- Magna International Inc. anticipates 2011 revenue could top analysts' expectations.

The Canadian auto parts supplier said Wednesday that it expects revenue of $25.6 billion to $27.1 billion.

Analysts surveyed by FactSet forecast revenue of $25.9 billion for the year.

Consolidated production sales are predicted to be between $21.7 billion and $22.7 billion.

The forecasts are based on 2011 light vehicle production volumes of about 12.9 million units in North America and approximately 13.3 million units in Western Europe. 

"Our outlook reflects significant sales growth, including expansion in high-growth markets in the next few years," CEO Don Walker said in a statement. 

Magna expects North American production sales of $12.7 billion to $13.2 billion and sales of $7.8 billion to $8.1 billion in Europe. For the rest of the world the company anticipates production sales of $1.2 billion to $1.4 billion. 

Magna anticipates complete vehicle assembly sales in a range of $2.4 billion to $2.7 billion.

Production sales are forecast to come in at approximately $3 billion for 2011 to 2013, based on assumed full year 2013 light vehicle production volumes of about 14.8 million North American units and approximately 14.1 million units in Western Europe. 

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