19:49:18 EDT Fri 09 May 2025
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 72,787,848
Close 2025-04-04 C$ 6.77
Market Cap C$ 492,773,731
Recent Sedar Documents

Globe says Magna, rivals see need to adapt grow

2025-04-07 07:11 ET - In the News

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

The Globe and Mail reports in its Saturday, April 5, edition that Southwestern Ontario's automaking sector is still worth investing in. The Globe's Adam Radwanski reports that Canadian parts manufacturers have already shown their ability to adapt, such as when they produced medical equipment during the COVID-19 pandemic, and there is potential for them to shift focus to meet other domestic needs. One major opportunity comes from the planned increase to Canada's defence spending. Trillium Network for Advanced Manufacturing director Brendan Sweeney said, "The most logical thing they could do instead of automotive is, like, a military truck." Other needs parts makers could help meet, he suggested, include mining equipment and even components for Ontario's planned new builds of nuclear reactors. Government cannot dictate that companies diversify. However, it could empower them to do so through procurement policies, plus training programs and financial incentives for necessary capital investments. None of that would mean giving up on automaking, which will hopefully bounce back. But it could strengthen the industry regardless, while allowing more needs to be supplied domestically.

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