Magna
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Magna announces Ontario expansion, new Brampton facilityThe provincial government announced that it is supporting Magna's expansion with $23.6 million in funding through Invest Ontario.CanadaFeb 15, 2023
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Magna shares plunge after disappointing Q4 results: ‘Another difficult year’Supply disruptions that were expected to have cleared up did not, leading to continued volatility in auto production that made for significant inefficiencies in Magna's operations.EconomyFeb 10, 2023
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Ontario auto parts maker Magna International reports higher Q3 profit, salesMagna International Inc. says it earned US$289 million in its third quarter, up from US$11 million in the same quarter last year.EconomyNov 4, 2022
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Magna posts Q2 loss as China lockdowns, supply chain woes weighed"The China COVID lockdowns in the quarter created further supply chain bottlenecks that are still being felt in the industry," Magna CEO Seetarama Kotagiri told analysts.EconomyJul 29, 2022
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Magna International to open electric vehicle parts plant in Chatham-KentMagna says the new Chatham plant will see up to 150 jobs created, and will produce battery enclosures for Ford's new F-150 Lightning truck.EconomyMar 30, 2022
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Magna idles Russian operations in response to Ukraine invasionMagna also says it is making a significant donation to the UN Refugee Agency and will match employee contributions.WorldMar 4, 2022
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Bridge blockades compounding semiconductor supply issues, Magna CEO saysMagna CEO Seetarama Kotagiri said that some customers have had to idle or cut production requirements as a result of the bridge closure.EconomyFeb 11, 2022
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Magna’s profit hit in Q3 as chip shortages continue to hamper auto productionMagna says vehicle production was significantly lower than anticipated largely due to the chip shortages.EconomyNov 5, 2021
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Canada’s auto stocks spike after U.S., Mexico announce trade agreementCanadian automotive stocks were rallying after the U.S. and Mexico announced they have reached a bilateral "understanding" on a trade agreement.ConsumerAug 27, 2018
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Shutting of Grenville Castings in Perth to cost community hundreds of jobsApproximately 380 people and a number of temporary employees that work at the Grenville plant in Perth will lose their jobs in June of 2019.CanadaJul 3, 2018
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