Magna following the crowd to new overseas markets

'Magna International Inc. (MG-T42.29-0.16-0.38%) will gear up efforts to expand in growing markets this year, dedicating as much as half of its record capital spending this year to projects in Asia, South America and Eastern Europe.

It’s the latest sign that the centre of gravity for Canada’s largest auto-parts maker, one of the country’s global champions, is shifting as its traditional markets of North America and Western Europe stagnate or decline, and is following other auto makers that are pouring billions of dollars into China, Brazil and India...'

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