Photo Credit: Seeker401

Magna International, (TSX:MG.A) in joint partnership with the National Research Council, is opening a new $7.2M research and development facility in Concord, Ontario with the help of the federal government. This facility will focus on the development of lightweight, low cost, environmentally friendly, safer and more durable car parts for future cars designed with reduced fuel consumption needs in mind. The Magna-NRC Composite Centre of Excellence will be fitted with state of the art moulding equipment for thermoplastic compounds such as direct long fibre and sheet moulding compound.

Bob Brownlee, President of Magna Exteriors and Interiors, stated that “the Magna-NRC Composite Centre of Excellence will help reinforce Magna’s position as a supplier of lightweight, cost-effective composite solutions to the global automotive market.” Although this may not create a substantial amount of new jobs, Canadian Auto Workers union economist Jim Stanford says “It’s very important for Canada to develop our made-in-Canada expertise in the auto industry. For too long we relied on foreign companies to bring the technology, the machinery and the products to us and then we would manufacture them.” Soon the world will be looking to Canada for automotive parts and the technology to build them. Global fuel concerns make this project an exciting endeavor. Reduced weight equates to reduced consumption.
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Regardless of your views on his political ideology, it is hard to debate Sam Gindin’s arguement and suggestion from a November 26^th article:

“First, as absolutely essential as the bailout is, it won’t end the crisis in the auto industry even if the Detroit-based companies adjust their models. That’s because the industry has so much excess capacity and slow growth will characterize at least the next few years, if not beyond. This means that even as the union lobbies to achieve the bailout, it needs to raise its perspective beyond auto. It needs to start thinking about the application of existing facilities and skills to a larger set of products. Here, the environment re-enters, but rather than being a threat to jobs it holds out the potential of adding jobs. If the environment is going to be seriously addressed in this century, it will mean changing not just the kind of cars we drive and how they are powered, but everything about how we work, consume, travel, live. To that end, auto’s assembly, component and tool and die shops, along with its body of skilled and committed workers, are an asset that can be converted into producing wind turbines, solar panels, parts for mass transit vehicles, more energy-sensitive industrial machinery and more energy efficient home appliances.”
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