Stuttgart - Luxury German sports carmaker Porsche SE said Thursday it was shifting production of its Boxer model from Finland to Austria.

The Stuttgart-based group said it had chosen Austrian auto group Magna Steyr to build its Boxster-model from 2012.

As a result, Magna Steyr will replace Porsche's current partner Valmet Automotive after the Austrian company presented the most attractive offer, Porsche said.

Valmet has produced more than... // TopNews

MUNICH -- German sports car maker Porsche has picked Austrian contract carmaker Magna Steyr to build Boxster-series cars from 2012.

Magna Steyr will replace current partner Valmet Automotive, whose contract to build Porsche Boxster and Cayman models was extended last year until 2011.

Valmet, of Finland, has made more than 200,000 units of the Boxster series since 1997.

Porsche said it chose Magna Steyr because it submitted the most financially attractive offer, and because it is in a position to take on development tasks for Porsche.

Porsche Chief Financial Officer Holger Härter said in a statement: "Our decision is in no way a vote against Valmet. Rather, it was the high... // Automotive News

Stuttgart - Luxury German sports carmaker Porsche SE said Thursday it was shifting production of its Boxer model from Finland to Austria.

The Stuttgart-based group said it had chosen Austrian auto group Magna Steyr to build its Boxster-model from 2012.

As a result, Magna Steyr will replace Porsche's current partner Valmet Automotive after the Austrian company presented the most attractive offer, Porsche said.

Valmet has produced more than... // Monsters and Critics.com