Magna

• Magna announces Ontario expansion, new Brampton facility

  The provincial government announced that it is supporting Magna's expansion with $23.6 million in funding through Invest Ontario.

  Canada

  Feb 15, 2023
  
• 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.

  Economy

  Feb 10, 2023
  
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• Ontario auto parts maker Magna International reports higher Q3 profit, sales

  Magna International Inc. says it earned US$289 million in its third quarter, up from US$11 million in the same quarter last year. 

  Economy

  Nov 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.

  Economy

  Jul 29, 2022
• Magna International to open electric vehicle parts plant in Chatham-Kent

  Magna 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.

  Economy

  Mar 30, 2022
• Magna idles Russian operations in response to Ukraine invasion

  Magna also says it is making a significant donation to the UN Refugee Agency and will match employee contributions.

  World

  Mar 4, 2022
• Bridge blockades compounding semiconductor supply issues, Magna CEO says

  Magna CEO Seetarama Kotagiri said that some customers have had to idle or cut production requirements as a result of the bridge closure.

  Economy

  Feb 11, 2022
• Magna’s profit hit in Q3 as chip shortages continue to hamper auto production

  Magna says vehicle production was significantly lower than anticipated largely due to the chip shortages.

  Economy

  Nov 5, 2021
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• Canada’s auto stocks spike after U.S., Mexico announce trade agreement

  Canadian automotive stocks were rallying after the U.S. and Mexico announced they have reached a bilateral "understanding" on a trade agreement.

  Consumer

  Aug 27, 2018
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• Shutting of Grenville Castings in Perth to cost community hundreds of jobs

  Approximately 380 people and a number of temporary employees that work at the Grenville plant in Perth will lose their jobs in June of 2019.

  Canada

  Jul 3, 2018