20:25:18 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 212,591,163
Close 2014-09-05 C$ 123.49
Market Cap C$ 26,252,882,719
Recent Sedar Documents

Globe says Magna, rivals see work move south

2014-09-08 09:04 ET - In the News

Also In the News (C-LNR) Linamar Corp

The Globe and Mail reports in its Monday edition that Automotive Parts Manufacturers Association head Flavio Volpe says retaining Canada's existing auto assembly plants is crucial to keeping the domestic auto parts industry healthy. The Globe's Greg Keenan writes that parts makers face the challenge of adapting to the southward shift of the industry in North America as billions of dollars in investment get pumped into Mexico and the United States, and production grows in those regions. Neither shipments nor jobs have returned to the peaks hit in the early 2000s. Mr. Volpe says parts makers need to build on their strengths to grow. He says Ontario is unique in that it is the only jurisdiction in Canada and the U.S. that is home to assembly plants operated by five different automakers. Mr. Volpe says, "This industry has a 100-year plus footprint here and with that 100 years of history comes a refinement of a skill set, quantitative and qualitative, that underpins our competitiveness." Meantime, Canadian parts makers are following their customers southward. Magna International broke ground last week on a new plant in Tennessee to make seats for a GM assembly plant in that state.

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