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inside the market
Monday’s analyst upgrades and downgrades
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)
report on business
Magna International reports Q1 profit down from year ago, sales up 11 per cent
General view of Magna's annual general meeting in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
opinion
Magna executives pay no price for Russian misadventure
David Milstead
report on business
Magna CEO’s compensation grows to US$28-million owing to ‘transformational’ stock grant
Magna Names Seetarama (Swamy) Kotagiri Chief Executive Officer
report on business
Magna to invest more than $470-million to expand operations across Ontario
A general view of Magna's annual general meeting to begin in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
inside the market
Market movers: Stocks that saw action on Friday - and why
Fresh nuts, bolts and fittings are ready to be added to the east leg of the pipeline near St. Ignace as Enbridge prepares to test the east and west sides of the Line 5 pipeline under the Straits of Mackinac in Mackinaw City, Mich., on June 8, 2017.
report on business
Magna shares down almost 15% as fourth-quarter results hit by production volatility, costs
Magna International Inc. logo is seen prior to the company's annual general meeting to begin in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
report on business
Magna International says its margins for 2022 will be lower than expected
Magna International Inc. logo is seen prior to the company's annual general meeting to begin in Toronto on Friday, May 10, 2013. THE CANADIAN PRESS/Nathan Denette
inside the market
Nine Canadian fund managers offer their best portfolio advice - and top picks - for 2023
report on business
Auto parts maker Magna buys Veoneer division for US$1.5-billion in advanced driving technology expansion
report on business
Canadian auto parts maker Magna to buy Veoneer’s active safety business for US$1.525-billion
inside the market
Wednesday’s analyst upgrades and downgrades
report on business
Magna reports lower-than-expected quarterly profit as costs bite
report on business
Magna International reports US$364-million first-quarter profit, cuts outlook for full year
inside the market
Tuesday’s analyst upgrades and downgrades
inside the market
Magna is rebounding. But it may be best to watch from the sidelines
report on business
Magna to idle Russian operations in response to Ukraine invasion
report on business
Auto parts maker Magna sees initial hit from border bridge blockade
inside the market
Three stock picks from Matco Financial’s Anil Tahiliani
rob magazine
For Magna chief Swamy Kotagiri, the future looks positively electric
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