Magna's profits rise 55% in quarter
TORONTO - Aurora, Ontario, supplier Magna International Inc. said its net income in the first fiscal quarter that ended Oct. 31 soared 55 percent from a year earlier to $147.8 million Canadian, or about $96 million at current exchange rates, as sales increased 45.5 percent to $1.97 billion.
NISSAN GETS LOAN
TOKYO - Nissan Motor Philippines Inc., its factories shut by slack demand, has been given a loan of ¥5 billion, or about $41.7 million, from the Export-Import Bank of Japan. The money replaces normal bank loans that have dried up because of a credit squeeze by Japanese banks, Nissan spokesman Masataka Saito said.
FORD'S GREEN PLANTS
DETROIT - All of Ford Motor Co.'s 140 plants worldwide have been certified as environmentally friendly, the company said. The plants achieved standards, called ISO 14001, set by an international oversight group.