02:36:50 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 282,127,361
Close 2025-02-25 C$ 54.65
Market Cap C$ 15,418,260,279
Recent Sedar Documents

FP says Magna may find U.S. move has many moving parts

2025-02-25 05:46 ET - In the News

The Financial Post reports in its Tuesday edition that the threat of widespread U.S. tariffs is forcing some Canadian companies with operations on both sides of the border to consider shifting production or relocating to the U.S. The Post's Serah Louis writes that Swamy Kotagiri, chief executive officer of car-parts-maker Magna International, said in a recent conference call with analysts that he has heard some of Magna's customers are considering shifting production to avoid U.S. tariffs. When asked about Magna's own flexibility to move production, Ms. Kotagiri said: "We're looking at that and we'll continue to look at that. But ... this is not a switch that can be turned on and off in the short term, so I believe this [the tariffs] is going to be disruptive." Richard Leblanc, professor of governance, law and ethics at York University, said Canadian companies should proceed carefully, and not just bow to monetary or investor pressure. He said that having "a knee-jerk reaction" to tariffs by closing shop in Canada, moving to the United States and either terminating employees or compelling them to move, could lead to potential litigation from stakeholder groups, as well as public pressure and reputational issues.

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