03:29:06 EST Fri 27 Dec 2024
Enter Symbol
or Name
USA
CA



Martinrea International Inc
Symbol MRE
Shares Issued 78,792,540
Close 2023-12-11 C$ 12.64
Market Cap C$ 995,937,706
Recent Sedar Documents

Globe says Magna, rivals helping revitalize Windsor

2023-12-11 09:02 ET - In the News

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

The Globe and Mail reports in its Saturday edition that Windsor is going through major reconstructive surgery, courtesy of an unprecedented wave of investment. The Globe's Jason Kirby writes that there is the $5-billion NextStar Energy electric vehicle battery plant, a joint venture between Stellantis and LG Energy Solution that will employ 2,500 people full-time when it begins operations. A conservative back-of-napkin tally for all that activity shows more than $16-billion will flow into the region over just the next few years -- most of it into the city of Windsor itself. Now a new shakeup is happening, brought on by the EV transition. Diane Reko, the chief executive officer of Reko International Group., has watched Windsor's automotive sector deliver waves of prosperity followed by crushing drought time and again. Automotive companies are Reko's biggest customers. At least two South Korean EV supply chain companies have already announced plans to open shop in Windsor. Large Canadian parts suppliers such as Magna International, Martinrea International and Linamar are already well-positioned to win EV business in Windsor. Meanwhile, as part of its diversification push, Reko is in talks with a critical minerals company.

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