5 Canadian companies on the 2022 Automotive News Top 100 Global Suppliers List
Five Canada-based auto parts makers find themselves on the 2022 Automotive News Top 100 Global Suppliers List.
The list, released Monday, tracks sales to automakers from the previous year.
Magna International Inc., Linamar Corp., Martinrea International Inc., Multimatic Inc., and ABC Technologies landed on the list. All but ABC Technologies were on the list a year ago.
Magna International Inc., based in Aurora, Ont., remained fourth on the list. It’s the only Canadian company in the top five.
Magna had sales of $36.2 billion (all figures in USD) to automakers worldwide, up 11 per cent over 2020. The company was also North America’s largest supplier.
Despite the increase, Magna has been talking with automakers about ways to strike a better balance financially.
“We continue our discussions with customers at various levels almost on a daily basis,” Magna CEO Swamy Kotagiri said during a call with analysts in April.
He said talks between Magna, the largest North American auto supplier, and automakers have been “open and transparent” but sometimes “tough.”
“Going forward, we will try to reflect the new economics in our primary markets in North America and Europe,” Kotagiri said. “Inflation has been stable and modest for a long time, as an example, but now it’s high. … We are looking at different arrangements going forward to see how we can recover the increased costs.”
Here is how the other Canadian companies in the top 100 fared:
- Linamar Corp. of Guelph, Ont., moved up to six spots to 54 from 60 on the list with $3.7 billion in sales, up from $3.2 billion a year ago;
- Martinrea International Inc. of Vaughn, Ont. climbed 10 rungs up the ladder, landing at No. 63, up from No. 63 last year. It posted $2.95 billion in sales, up from $2.44 billion in 2019;
- Multimatic Inc. of Markham, Ont., edged up one spot to No. 95, with an estimated $1.19 billion in sales. That was up from the $1.06 billion the year before.
- ABC Technologies of Toronto came in at No. 97 after missing the top 100 a year ago. It did $971 million in sales, up from the $823 million in 2020.
Robert Bosch and Denso Crop. And ZF Friedrichshafen all managed to maintain the top three spots, respectively.
With files from Automotive News.