DETROIT — Fresh on the heels of his company’s $1.9 billion acquisition of transmission supplier Getrag last week, Magna International Inc. CEO Don Walker said he sees no slowdown in the pace of consolidation among auto suppliers.
Walker said the relentless onrush of new technology, the pace of government regulation and the globalization of the industry are helping to drive the trend.
“You need to be well financed. You need to be global. You need to have a lot of product and process innovation,” Walker said in an interview before his speech at the Automotive News World Congress today. “You need to be very good at program management and you need to be able to launch it all.”
