Linamar withdraws 2020 financial outlook over virus impact
Auto parts manufacturer moved quickly to cut costs and capital spending, expects to be profitable for the year.
Uni-Select furloughs half of its 6,000 auto parts and paint employees
28% of its sites are operating on reduced hours while 7% are operating on a very limited basis.
Magna withdraws guidance due to business uncertainty of COVID-19 outbreak
The auto parts company said many of its plants have reduced or suspended operations because of the outbreak
Martinrea to buy structural components business from Mexico-based Metalsa
Canadian auto parts company will acquire six plants around the world with approximately 2,000 employees.
Magna cuts 2019 outlook after GM strike in US cuts volume
Expects total sales this year of between $38.7 billion and $39.8 billion.
Canadian auto sector starting to feel effect of GM strike in US
Companies are looking to adjust production schedules to adapt to the disruption.
Ontario offers technology, training funding for auto parts suppliers
Will contribute to technology adoption and lean manufacturing efforts.
Auto parts maker Magna reduces profit guidance for 2019
Expects light vehicle production in North America and Europe to fall shot of an earlier forecast.
Auto parts maker Magna reports $456M Q4 profit, ups dividend
Will now pay quarterly 36.5 cents per share, up from 33 cents per share.
Brose to cut 100 jobs in London as auto market shifts
Adjusting production capacity at the manufacturing facility to meet shifting customer demand.
Magna International buying Spanish automotive seat maker Viza Geca SL
Magna will acquire factories in Spain, the Czech Republic, Morocco and Mexico.
Oil surges and loonie rises but markets muted on new NAFTA deal
Increase is directly attributable to the trade deal.
Magna posts higher income and record sales in Q4
Sales increase came as light vehicle production rose 7% in Europe and 5% in North America.
Feds to invest $49M to support advanced manufacturing at Linamar
Ontario will provide a conditional grant of up to $50 million.
Auto sector reps criticize CEOs for pushing Canada to join new TPP
They say it’s bad for the small and medium-sized auto parts companies and their employees.