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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