Rural Roadways: Federal government to invest $250 million in rural transit
Ottawa, Ontario – The Government of Canada announced $250 million to help rural communities with transit issues. Today, the minister of infrastructure, Catherine McKenna and the minister of rural economic development, Maryam Monsef announced $250 million dollars over five years in order to develop more transit options for Canadians living in remote areas. This fund […]
OVIN for Business: Ontario to invest $56.4 million for auto sector, advanced manufacturing
Toronto, Ontario — Ontario will invest $56.4 million over the next four years to create the Ontario Vehicle Innovation Network (OVIN). The province’s Conservative government unveiled its budget plans for 2021 on Wednesday, where it said it is prepared to support “Ontario’s role of the manufacturing hub of Canada.” The new program expands on the […]
Ready, Set, Rebates: SGI to pay out $285 million in one-time rebates to Sask. drivers
Regina, Saskatchewan — Saskatchewan Government Insurance (SGI) will be issuing rebate cheques totalling $285 million to eligible drivers in the coming months The rebates come from SGI’s rate stabilization fund, which “help keep rates low and protect customers from wild rate fluctuations in the event of a sudden onset of claims,” said Tyler McMurchy, SGI’s […]
Oh Snap: Snap-on acquires Ontario-based Dealer-FX
Markham, Ontario — HGGC, the private equity firm that controls Canadian operations software provider Dealer-FX, has sold the company to Snap-on Inc., the companies announced Monday. The giant manufacturer of hand tools, shop equipment, diagnostic software and other service department products paid HGGC US$200 million cash for Dealer-FX, of Markham, Ont. Dealer-FX’s service lane software […]
Through the Storm: Uni-Select reports 2020 full year financial results, says automotive aftermarket businesses fared better than refinish business
Boucherville, Québec — Uni-Select has reported its financial results for Q4 2020 and the year ended Dec. 31, 2020. According to the company, Sales for 2020 were down 15 percent, with performance largely impacted by the pandemic. Sales for 2020 Q4 were down 11.2 percent compared to the same quarter in 2019—“in line with those […]
Li-Cycle Listed: Ontario battery recyclers files to go public on NYSE
Mississauga, Ontario – Li-Cycle is raising funds for global expansion by going public on the New York Stock Exchange (NYSE) in a deal that values the battery recycler at US$1.7 billion, the company announced Tuesday. The five-year-old private company has unveiled plans to merge with Peridot Acquisition Corp., an NYSE-listed special acquisition corporation (SPAC). If […]
Pandemic Profits: Honda raises 2020/2021 predictions
Tokyo, Japan – Despite Covid-19 slowdowns, Honda has seen some significant profit increases in the latest quarter, reporting a 67 percent increase globally based on higher demand and cost reductions. In a statement released on Tuesday, the automaker noted an operating profit for three months, to Dec. 31 was 277.7 billion yen (CND$3.38 billion). “Automobile […]
Tuesday Ticker: January 26, 2021
Toronto, Ontario — In this week’s Tuesday Ticker, PPG pummels its 2019 Q4 numbers, Fiat Chrysler and PSA make a final handshake and Axalta preps to unveil its full-year results for 2020. PPG powers through PPG has fourth quarter 2020 net sales of approximately US$3.8 billion, more than two percent higher versus the prior year. […]
Tuesday Ticker: July 14, 2020
Toronto, Ontario — EV stocks continue to surge in this week’s Tuesday Ticker, as electric automaker Fisker goes public post-merger, while batteries get boosted after Audi’s CEO taunts Telsa’s battery-range reign and Honda launches a new tech partnership. Fisker fuel American Electric car maker Fisker will go public through a merger with a “blank check […]
Tuesday Ticker: GPC rises on expectation, LKQ makes big acquisition and Axalta opens in Dubai
By Jeff Sanford Toronto, Ontario — October 17, 2017 — Welcome to the first entry in a new ongoing series. Tuesday Ticker sums up the financial news and results from the industry’s publicly traded companies. Collision Repair magazine launched the CRM Index during the summer. You can find the current listing for the CRM Index […]
