Magna International Inc (MG-T) Press Releases

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Closing Bell: Magna International Inc down on Thursday (MG)

The Globe and Mail - 1 hour ago

The Globe and Mail

1 hour ago

Employees at Magna Closures Dortec Industries in Markham Feb 19, 2013. in one word: China. The Magna International Inc. plant in Newmarket, Ont., had been around since 1985, making door latches for cars, trucks and minivans. Latches take a lot of work to put together, they're easy to package and can be easily shipped anywhere around the world, so Magna's customers wanted the Canadian auto parts giant to open a plant in China to keep costs in check. Magna complied with the requests and opened a latch plant in Kunshan in 2001. But it kept Dortec open as well. The boom in North American auto production in the first half of the 2000s ensured there was enough work to go around, and the plant was even able to generate higher profits than the average Magna factory. By 2006, however, the business was being battered by soaring commodity prices and demands by the auto makers for price cuts. Executives at Magna Closures Inc., which oversees both the Newmarket and China operations, turned for help to a retired Toyota Motor Corp. vice-president to teach the company how to develop a first-rate manufacturing system. Seven years later, Dortec is at the head of the class. It is also defying the notion that low-cost countries have sounded the death knell for manufacturing in Canada - so much so that side-door latches assembled in Newmarket are shipped from "high-cost" Canada to auto makers in China, Thailand and other low-cost regions.(Moe Doiron/The Globe and Mail)

Monday’s analyst upgrades and downgrades

The Globe and Mail - Mon May 8, 6:01AM CDT

The Globe and Mail

Mon May 8, 6:01AM CDT

Inside the Market’s roundup of some of today’s key analyst actions

This photo taken in October 2016 shows an aboveground section of Enbridge's Line 5 at the Mackinaw City, Mich., pump station.

Market movers: Stocks seeing action on Friday - and why

The Globe and Mail - Fri May 5, 8:33AM CDT

The Globe and Mail

Fri May 5, 8:33AM CDT

A look at North American equities heading in both directions

Magna International reports Q1 profit down from year ago, sales up 11%

Canadian Press - Fri May 5, 6:12AM CDT

Canadian Press

Fri May 5, 6:12AM CDT

TORONTO — Magna International Inc. upgraded its outlook for its sales and profit for the year as it reported its first-quarter profit fell compared with a year ago and its sales rose 11 per cent.

General view of Magna's annual general meeting in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette

Auto parts maker Magna International raises annual sales forecast

- Fri May 5, 5:44AM CDT

Fri May 5, 5:44AM CDT

The global auto industry is recovering from chip shortages and elevated prices for raw materials, freight and labour that had shackled efforts to meet customer demand