12:00:37 EDT Wed 19 Aug 2026
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 267,396,346
Close 2026-08-18 C$ 97.71
Market Cap C$ 26,127,296,968
Recent Sedar+ Documents

Globe says Magna told defence players want idled plants

2026-08-19 08:18 ET - In the News

Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Globe and Mail reports in its Wednesday edition that Canadian defence companies are eyeing idle automotive plants and laid-off workers for their expansion plans. The Globe's Pippa Norman writes that among the interested parties are defence tech company Dominion Dynamics and armoured vehicle maker Roshel. Both Ontario-based companies are working on bids to occupy unused manufacturing space in the Canadian automotive sector to bolster the production of defence goods, in hopes of fostering industrial hubs supported by an injection of federal funds. Flavio Volpe, head of the Automotive Parts Manufacturers' Association, said the idea is worth pursuing. The Canadian auto industry has been struggling with tariffs enacted by U.S. President Donald Trump starting early last year. Some plants have ceased operations or moved production, and thousands of workers have lost their jobs or been left without certainty on when they could be restored. Last Friday, the union that represents workers at a Stellantis assembly plant in Brampton said the multinational carmaker had informed the union about its plans to potentially close and sell the facility. The plant has been idle, and its 3,000 employees without work, since February, 2025.

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