Magna forecasts modest 2012 sales increase

(Reuters) - Magna International Inc forecast on Wednesday its sales would rise modestly in 2012, in line with analyst expectations, predicting higher vehicle production in North America and expansion in emerging markets. Magna, one of the world's biggest auto parts manufacturers, also expects to raise spending on fixed assets to between $1.3 billion and $1.5 billion this year. That is well up on forecast spending for 2011 of between $900 million and $1.0 billion. "Capex is up quite a bit. I was a bit surprised to see that. ...