Business: Page 164

Business
Credit Change: New Government initiative guarantees loans for mid-sized players
Ottawa, Ontario — The Government of Canada has announced new measures to help medium-sized businesses–a category which includes several MSOs and franchises operating in the collision industry. The program guarantees 75 percent of loans to mid-market businesses seeking new operating credit and cash-flow loans. The program will be run through Export Development Canada (EDC), though […]
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Business
Pandemic Precautions: Messe Frankfurt NA delays major trade show
Frankfurt, Germany — Messe Frankfurt is the latest organization to cancel a major industry tradeshow amid the pandemic–Automechanika Frankfurt has been rescheduled for Sept. 14 to Sept. 18, 2021. The event was originally set to take place Sept. 8 through 12, 2020. Event organizers said, “it simply would not have been possible for many of […]
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Business
Mask Heroes: Ford ramping up medical equipment production at Windsor plant
Toronto, Ontario — The Ford Motor Company of Canada is ramping up production at its Windsor plant. Last month, Ford said it would make 2-million face shields for frontline healthcare workers and first responders. On Thursday, it said it was increasing production to make 2.75-million face shields, calling 200 workers back to work at the […]
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Business
Playing Through: Boyd grows Q1 profits despite outbreak
Winnipeg, Manitoba — May 6, 2020 — It might take more than a global pandemic to stop Boyd Group Services which owns both Gerber Collision and Glass and Assured Automotive. This week, the company released a preview of its Q1 report, showing a 12.6 percent increase in sales from the same period in 2019. In total, […]
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Business
Tuesday Ticker: April 28, 2020
Toronto, Ontario — April 28, 2020 — In this week’s Tuesday Ticker: around the globe, businesses in the automotive sector see a light at the end of the coronavirus tunnel, but speedbumps are ahead. Sharp Restart Ontario’s auto sector is preparing to resume its operations after the coronavirus lockdown period ends. Magna International has announced […]
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Business
Winning Hand: CSN adds Black Ace to its network
Edmonton, Alberta ⁠—CSN is still expanding amid pandemic protocols⁠—CSN Black Ace Collision officially opened up in St. Paul, Alberta on Apr. 6. Black Ace has served the 6,000-strong population of St. Paul, Alberta since 2010.  The facility is owned and operated by Corwin Robinson, who has been part of the Canadian automotive industry for more […]
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Driven Brands confirms acquisition of Fix USA
Charlotte, NC — Driven Brands, North America’s largest automotive services company, today announced its acquisition of Fix Auto USA (FUSA) and Auto Center Auto Body, Inc. (ACAB). “We are thrilled to add the Fix team to Driven Brands despite the current business climate. Our word and reputation for being good partners are incredibly important to us,” […]
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Responding to Rumour: Fix Network World on possible Driven Brands acquisition of Fix USA
Montreal, Quebec — Fix Network World has issued a press release related to unconfirmed rumours of an acquisition of Fix USA by Driven Brand and of plans to continue using Fix USA branding in its 150 locations. According to the press release, the acquisition of Fix Auto USA  and its intended use of the Fix […]
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SAAR Says: Saskatchewan shop survey reveals most repairers have laid-off employees during epidemic
Regina, Saskatchewan — A new survey from the Saskatchewan Association of Automotive Repairers has found that more than seven-in-ten provincial business owners have laid-off part of their workforce since the coronavirus pandemic began. The survey, which covered a number of topics, received responses from 99 SAAR members. When it asked “have you had to lay […]
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Tuesday Ticker: April 21, 2020
Toronto, Ontario — In this week’s Tuesday Ticker, some major players in the automotive aftermarket find share-price stability after weeks of freefalling figures. Other businesses, however, adjust put pre-existing plans on hold while the pandemic runs its course. Magna on Terra Firma Magna International’s stock price has stabilized just above $50-per-share, up by about 25 […]
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Editor’s Log: The Auto Insurer that Roared
In the 1950s, Britain saw its economic fortunes decline in comparison to West Germany. Its old rival was then undergoing a post-war boom, fuelled by the U.S. prolific economic support of West Germany. This difference in fortune was something of a sore spot for beleaguered Brits, who wished their own government had received more aid […]
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Tuesday Ticker: March 31, 2020
Crude Crush This week crude oil prices dropped to US$24.01 a barrel–a low not seen since the 1990s. According to the Organization of the Petroleum Exporting Countries, the price is being driven down by Saudi Arabia and Russia. Russia and Saudi Arabia have ramped-up production, despite the decreased opportunity for profit. In Canada, low prices […]
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