Martinrea International Inc. Holds Annual General Meeting

Martinrea International Inc. a diversified and global automotive supplier engaged in the design, development and manufacturing of highly engineered, value-added Lightweight Structures and Propulsion Systems, today announced the results of the election of directors at its annual general meeting.

Rob Wildeboer, the Company’s Executive Chairman stated: “We would like to thank our shareholders for their overwhelming show of support. The voting results were very positive.  As a board, we will continue to do our best for the Company and our shareholders.”

Mr. Wildeboer added: “At our meeting, the Company’s executive leadership presented an overview of the macro environment in which we operate, how we are dealing with current challenges and opportunities, our strategies, operations and financial position, and of course our culture, which is a source of strength for us.”

Pat D’Eramo, the Company’s President and CEO stated: “Martinrea, along with most of our OEM customers have restarted operations following the COVID-19 related shutdowns, and we are pleased with the progress made over the last few weeks. Though the restart has been slow, volumes are rising steadily, and we expect the recovery to gain momentum in the back half of this year. The shutdowns enabled us to accelerate the pace of our program management and operational improvements, which should support continued strong financial performance as industry volumes recover. We are very thankful to the Martinrea team for their efforts during this difficult time.”

Martinrea held an annual general meeting on June 9, 2020.  A total of 58,806,834 Common Shares, or 73.54% of the issued and outstanding Common Shares, were voted at the meeting.  Shareholders voted in favour of all items of business, including the election of each director nominee by a substantial majority as follows:

Additionally, Martinrea’s advisory “say on pay” vote received 98.63% support based on proxies received prior to the meeting.

ABOUT MARTINREA

Martinrea is a leader in the development and production of quality metal parts, assemblies and modules, fluid management systems, and complex aluminum products focused primarily on the automotive sector.  Martinrea operates in 57 locations in Canada, the United States, Mexico, Brazil, Germany, Slovakia, Spain, China, South Africa and Japan.  

Martinrea’s vision is making lives better by being the best supplier we can be in the products we make and the services we provide. The Company’s mission is to make people’s lives better by: delivering outstanding quality products and services to our customers; providing meaningful opportunity, job satisfaction, and job security for our people; providing superior long-term investment returns to our stakeholders; and being positive contributors to our communities.  For more information on Martinrea, please visit www.martinrea.com. Follow Martinrea on Twitter and Facebook.

For further information, please contact:

Rob Wildeboer
Executive Chairman
Martinrea International Inc.
3210 Langstaff Road
Vaughan, Ontario L4K 5B2
Tel:  416.749.0314
Fax: 289.982.3001

Fred Di Tosto
Chief Financial Officer
Martinrea International Inc.
3210 Langstaff Road
Vaughan, Ontario L4K 5B2
Tel: 416.749.0314
Fax: 289.982.3001