23:45:35 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 396,696,162
Close 2016-05-05 C$ 51.98
Market Cap C$ 20,620,266,501
Recent Sedar Documents

Globe says Magna CEO sees need for government help

2016-05-06 06:31 ET - In the News

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

The Globe and Mail reports in its Friday, May 6, edition that Magna International chief executive officer Don Walker says the federal and Ontario governments should focus their auto investment efforts on making sure Canada retains the assembly plants that are already here. The Globe's Greg Keenan writes that Mr. Walker says that means making sure Fiat Chrysler Automobiles, Ford Motor, General Motors, Honda Motor and Toyota Motor keep making vehicles in Canada. The facilities in most danger are GM plants in Oshawa, Ont., and an FCA large-car factory in Brampton, Ont. The future of the plants are in doubt for different reasons. The Brampton factory is the only assembly plant that makes FCA's Chrysler 300, Dodge Challenger and Dodge Charger cars, but it needs a new paint shop, which would cost about $500-million and lead to a shutdown of the plant for at least six months. The GM Oshawa plants, meanwhile, have no new vehicles allocated to them later this decade. GM of Canada president Steve Carlisle says allocation of new vehicles depends on negotiations with unionized workers and on discussions with governments. Those talks start this summer.

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