23:58:13 EDT Thu 16 May 2024
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Linamar Corp
Symbol LNR
Shares Issued 61,528,157
Close 2023-09-22 C$ 64.85
Market Cap C$ 3,990,100,981
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Globe/wire say Magna, rivals see UAW expand strike

2023-09-25 07:58 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Saturday, Sept. 23, edition that on Friday the United Auto Workers expanded its strikes against Detroit automakers General Motors and Chrysler parent Stellantis. A Reuters dispatch to The Globe reports that the UAW began strikes on Friday against 38 parts distribution centres across the United States at GM and Stellantis, extending its unprecedented, simultaneous strikes that began with one assembly plant each of the Detroit Three. The additional facilities added about 5,600 workers to the 12,700 already on strike. UAW president Shawn Fain said that by targeting distribution centres the strike becomes a nationwide event. Mr. Fain expected talks would continue over the weekend. The announcement was carefully managed by the union, leaving the automakers guessing what facilities might be struck next. Many analysts had assumed the next targets would be plants building the companies' most profitable vehicles. Instead, Mr. Fain said the decision on the expanded strike would impact consumers trying to obtain repair parts. The distribution centres are parts warehouses that ship parts to dealers and other retailers for use in car repairs.

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