To compete in the tough market for engineering services, Austrian supplier Magna Steyr is heading in new directions. Karl-Friedrich Stracke, who is president of vehicle technology and engineering at the Magna International unit, is betting on targeted acquisitions and growth in China. The former Opel CEO spoke with Johannes Winterhagen, correspondent at Automotive News Europe sister publication Automobilwoche.
Magna Steyr was one of the world's largest engineering service providers, but the company has slipped in the ranking because of many mergers in the sector. Do you have to make some acquisitions?
We are watching the M&A market very closely and are already looking at ways that we can become stronger. But it must be a true enhancement that brings us additional expertise. Just buying additional capacity makes no sense. A purchase has to fit strategically and contribute to our ability to offer our customers better service. That is the goal.