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Article: Stronach: man behind the auto parts giant Magna
- Article from:
- AP Worldstream
- Article date:
- May 30, 2009
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Frank Stronach, the Canadian owner of auto parts maker Magna International Inc., once referred to himself as "king" at one of his shareholder meetings. He's now added another property to his business empire: General Motors Corp's Opel unit.
After the second round of high-level talks in Berlin in as many days, Germany's finance minister said Saturday that a plan was approved for Magna to move ahead with Opel's rescue.
The Magna-Opel deal comes as no surprise to those who have followed Stronach's career.
"Frank's looking to put a cap on his career, build Frank up, build his legacy up. Frank's an egomaniac so whenever Magna does something, you have to ...