11:41:06 EDT Thu 02 May 2024
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Martinrea International Inc
Symbol MRE
Shares Issued 78,141,440
Close 2024-03-05 C$ 11.60
Market Cap C$ 906,440,704
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Martinrea sets up MiNDCAN software company

2024-03-05 13:04 ET - News Release

Mr. Pat D'Eramo reports

MARTINREA INTERNATIONAL INC. ANNOUNCES NEW SOFTWARE COMPANY, MINDCAN INC.

Martinrea International Inc. has launched MiNDCAN Inc., a software company offering solutions to help enhance program management, profit optimization, sustainability reporting and other capabilities.

MiNDCAN offers software solutions created by industry professionals who have a direct view of the unique needs within their respective departments. Martinrea has developed, implemented and utilizes these applications to help improve company processes. MiNDCAN products are tailored to specific business needs and have demonstrated tremendous success.

"Our goal for MiNDCAN Inc. was to take our internal success with software development and provide it to a wider audience who could use it to improve their own operations," said Pat D'Eramo, chief executive officer of Martinrea. "Within our business and industry, we have seen barriers to cost optimization and a lack of robust automotive project management software. In response, we have created and implemented solutions that have shown proven results."

MiNDCAN's offerings include:

  • MiNDCAN Program+ -- a solution that helps to manage complex programs and projects involving thousands of individual tasks and hundreds of people;
  • MiNDCAN Profit+ -- a cost optimization platform for idea generation across the organization, visibility on progress and reporting on financial targets;
  • MiNDCAN Sustain+ -- a program to help collect, track and report on environmental sustainability information in a centralized location;
  • MiNDCAN Customer+ -- a customer relationship management system to help track and manage the customer relationship life cycle.

"We believe in the solutions we have created and have seen their success in a myriad of ways," said Rob Wildeboer, executive chairman of Martinrea. "By testing and utilizing these products at our locations, we have seen the capabilities and improvements in action, and we are confident that they can help other organizations continue to succeed as well."

Leading this digital transformation is Ganesh Iyer, chief technology officer of Martinrea. Through his integrated role of product engineering, R&D (research and development), and IT (information technology) at Martinrea, Mr. Iyer brings extensive experience and knowledge to MiNDCAN.

"As a growing software company, our objective is to empower businesses with built-for-purpose solutions that allow organizations to meet their unique business needs while also driving increased efficiencies and improvements," said Mr. Iyer, head of MiNDCAN. "We are excited to introduce our products to new organizations and continue assisting our current clients with achieving their targets."

About Martinrea International Inc.

Martinrea is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector. Martinrea currently operates in 59 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa and Japan. Martinrea's vision is making lives better by being the best supplier it can be in the products it makes and the services it provides.

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