Martinrea International Inc. Publishes 2022 Sustainability Report
March 06 2023 - 11:35AM
Martinrea International Inc. (TSX : MRE), a diversified and global
automotive supplier engaged in the design, development, and
manufacturing of highly engineered, value-added Lightweight
Structures and Propulsion Systems, announced the release of its
2022 Sustainability Report on March 2. This report showcases
Martinrea’s performance on Environmental, Social, and Governance
(ESG), ongoing initiatives, and goals for the future.
“As a Company, our people recognize the need to adapt in an
ever-evolving world and are committed to creating a stronger and
better future aligned with our objectives,” said Pat D’Eramo,
President and CEO. “By utilizing our expertise in product
development, we aim to grow our business in a sustainable manner
and remain ahead of market changes.”
“Our goal as a Company is to improve people’s
lives; this is shown through our dedication to ‘Making People’s
Lives Better,’ as emphasized in our 2022 Sustainability Report,”
said Rob Wildeboer, Executive Chairman. “Our people are vital in
ensuring the Company’s sustainability initiatives are implemented
throughout our business.”
The 2022 Sustainability Report highlights various achievements
and accomplishments, including:
- In 2022, we committed to reducing
our carbon emissions by 35 percent by 2035. To reach this goal, we
expect to concentrate on energy optimization projects across all
plants and gradually expand the use of renewable electricity
sources globally while not relying on purchasing carbon
offsets.
- We have a 21 percent stake in
NanoXplore, the world's largest graphene producer. Martinrea
introduced the industry's first brake lines using GrapheneGuard®,
which offers weight savings of up to 25 percent and a reduction of
multiple components. This innovation received a 2022 Automotive
News PACE Award.
- One-third of the Board of Directors
at Martinrea is female. This makes up around 43 percent of the
independent directors on the Board. Gender diversity is a top
priority at Martinrea.
- We developed lightweight,
sustainable solutions for the growing electric vehicle industry.
These products are also essential for all types of vehicles,
including hybrid, autonomous, and electric.
- We received a 'B' grade in the 2022
CDP climate change disclosure, which indicates the Company has
addressed the environmental impacts of its business and is
committed to effective environmental management, according to the
CDP. This score is higher than the North American regional average
of C, higher than the metal products manufacturing sector average
of C, and shows improvement from the Company’s 2021 score of
C.
- At Martinrea, we consider all waste
as a valuable resource that can be reused, repurposed, composted,
or recycled. We implemented a Company-wide Zero Landfill initiative
with the ultimate goal of significantly reducing waste materials
sent to landfills.
- Our Total Recordable Injury
Frequency has improved by 86 percent since 2014 and is less than
half of the industry standard.
To view or download Martinrea’s 2022 Sustainability
Report, visit:www.martinrea.com/sustainability/
About Martinrea International
Inc.
Martinrea International Inc. (TSX: MRE) 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 58 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. For more information on Martinrea, please
visit www.martinrea.com. Follow Martinrea
on Twitter and Facebook.
Cautionary Statement on Forward-Looking
Information:
This News Release and the documents incorporated by reference
therein may contain forward-looking statements within the meaning
of applicable Canadian securities laws. The words “continue”,
“expect”, “anticipate”, “estimate”, “may”, “will”, “should”,
“views”, “intend”, “believe”, “plan” and similar expressions are
intended to identify forward-looking statements. Forward-looking
statements are based on estimates and assumptions made by the
Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as
well as other factors that the Company believes are appropriate in
the circumstances, such as expected sales and industry production
estimates, current foreign exchange rates, timing of product
launches and operational improvement during the period, and current
Board approved budgets. Many factors could cause the Company’s
actual results, performance or achievements to differ materially
from those expressed or implied by the forward-looking statements,
including, without limitation, the following factors, some of which
are discussed in detail in the Company’s most recent Annual
Information Form and MD&A and other public filings which can be
found at www.sedar.com.
For further information, please contact:
Media Contact:Deanna Lorincz,
Global Director, Communications and MarketingE-mail:
deanna.lorincz@martinrea.comTel: 248.392.9727Mobile:
586.634.1766
Investor Relations Contact: Neil
Forster – Director, Investor Relations and Corporate
DevelopmentE-mail: neil.forster@martinrea.comTel:
289.982.3020Mobile: 647.210.2385
Martinrea (TSX:MRE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Martinrea (TSX:MRE)
Historical Stock Chart
From Jul 2023 to Jul 2024