06:41:29 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 397,287,547
Close 2016-04-29 C$ 52.70
Market Cap C$ 20,937,053,727
Recent Sedar Documents

Globe says GM, others see Ontario try to allay fears

2016-05-02 08:36 ET - In the News

See In the News (C-GMM) General Motors Company

The Globe and Mail reports in its Monday edition the Ontario government is reassuring the auto sector it considers the industry crucial to the province's economy amid a controversy stirred up by a draft action plan on climate change, and comments critical of auto companies by Environment Minister Glen Murray. The Globe's Greg Keenan and Adrian Morrow write that the government has taken the unusual action of issuing a joint statement to the auto industry -- sent by Mr. Murray and Economic Development Minister Brad Duguid -- after the Environment Minister described the companies in Canada as "lacking courageous leadership" and doomed to have BMW and Tesla Motors "start eating [their] lunch." Mr. Murray's draft action plan on climate change includes a provision calling for an electric or hybrid vehicle in every multivehicle driveway in Ontario by 2024. The rare joint statement, in turn, was sent to key industry officials Friday, one day after Mr. Murray's comments were reported. The two ministers promised in the statement that any actions the government takes to address climate change will not place an unfair burden on the sector. The statement said, "We value each and every company that operates here today."

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