Transportation, Retail and Markets Correspondent, Canada
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Mar 8, 2013

GM to spend C$250 mln on Canada’s CAMI assembly plant

TORONTO, March 8 (Reuters) – General Motors Co is
spending C$250 million ($243.46 million) to retrofit its CAMI
Automotive Inc assembly plant in Ingersoll, Ontario, for future
vehicle production, the company said on Friday.

The facility currently produces the popular crossover
utility models Chevrolet Equinox and the GMC Terrain.

Mar 8, 2013

SNC Lavalin shares fall as results, outlook fall short

By Solarina Ho

(Reuters) – Canadian construction and engineering company SNC Lavalin Group Inc (SNC.TO: Quote, Profile, Research, Stock Buzz) reported a 24 percent rise in fourth-quarter profit on Friday, but its shares fell as much as 6.8 percent after the earnings and its 2013 outlook fell short of analysts’ expectations.

Excluding infrastructure investments, profit fell 33 percent, with earnings per share coming in far below analysts’ expectations.

Mar 7, 2013

Bombardier unveils high-stakes CSeries jetliner

MONTREAL, March 7 (Reuters) – Canada’s Bombardier Inc
took the wraps off its $3.4 billion challenge to
industry leaders Boeing and Airbus on Thursday,
announcing “excellent progress” on the development program for
its largest plane to date.

Bombardier’s single-aisle CSeries planes, with seating for
between 100 and 160 passengers, represent the Montreal-based
company’s attempt to break into the lower end of a marketplace
for 100-200 seat jets heavily defended by Boeing and Airbus.

Mar 4, 2013

Target gives peek at first Canadian stores in expansion push

GUELPH, Ontario, March 4 (Reuters) – U.S. discount retailer
Target Corp gave a first look at one of its new stores
in Canada on Monday, showing freezers with locally-produced
cakes and the country’s iconic beaver-logoed Roots apparel
brand, designed to appeal to Canadians in its massive expansion
outside the United States.

Target’s bold entry is expected to threaten a range of
Canadian retailers, from department store operators to grocers
and pharmacies, and Wal-Mart Stores Inc has planned its
own growth spurt in Canada to defend its turf.

Mar 1, 2013

Canada February auto sales slip; Big Three still robust

TORONTO, March 1 (Reuters) – Canadian auto sales dropped a
moderate 3.3 percent in February in a third straight monthly
decline, according to industry data released on Friday, as a
hardy appetite for Detroit’s Big Three brands helped offset a
setback for Japanese makers.

Chrysler Canada was the top seller last month, pipping Ford
of Canada by a few hundred units, although Ford posted a higher
overall sales increase at 5 percent, compared with Chrysler’s 2

Mar 1, 2013

C$ strengthens after in-line Canada GDP data

TORONTO, March 1 (Reuters) – The Canadian dollar
strengthened on Friday, rebounding from an early decline to its
lowest level since late June, after fourth-quarter domestic
growth data came in as forecast.

The Canadian economy chalked up another quarter of weak
growth at the end of 2012, and shrank 0.2 percent in December
for its first monthly decline since February 2012.

Mar 1, 2013

Magna lifts outlook, dividend after topping forecasts

TORONTO, March 1 (Reuters) – Canadian auto parts maker Magna
International Inc raised its full-year sales
forecast on Friday and sweetened its quarterly dividend after a
fourth-quarter performance that beat expectations.

Magna, one of the world’s largest parts makers, said its
North American operations helped drive total sales last year to
a record high. That mirrored the robust recovery for vehicle
sales in the United States, which rang up double-digit growth.

Feb 22, 2013

Bombardier outlook disappoints, new Learjet delayed

TORONTO, Feb 21 (Reuters) – Bombardier Inc
reported quarterly results on Thursday that fell short of
expectations and issued a lackluster 2013 outlook, sending
shares of the Canadian aircraft and train maker down 9 percent.

The company added to investors’ disappointment by announcing
it was pushing back the first delivery of its Learjet 85
business aircraft to the summer of 2014 from its previous target
of late 2013. It was the second time since November it delayed a
major aircraft program.

Feb 21, 2013

Bombardier shares hit as margins, outlook disappoint

By Solarina Ho

(Reuters) – Bombardier Inc (BBDb.TO: Quote, Profile, Research, Stock Buzz) reported quarterly results on Thursday that fell short of analysts’ expectations and issued a disappointing 2013 outlook, sending shares of the Canadian aircraft and train maker down 9 percent.

The Montreal-based company’s fourth-quarter profit tumbled 93 percent, pulled lower by charges for a plant closure and global job cuts in its rail division.

Feb 14, 2013

Canadian auto sales may be record high in 2013 – industry

TORONTO, Feb 14 (Reuters) – Canadian vehicle sales could
reach an all-time high this year, topping the near-record 1.7
million vehicles the industry sold in 2012, automotive
executives said on Thursday.

Pent-up demand from the recent recession, rising employment
and a wave of new models are driving sales for the Canadian
units of the Detroit Three as well as other foreign-based
automakers, analysts have said.

    • About Solarina

      "I am a Canadian transportation, retail and markets correspondent. I occasionally moonlight in entertainment and lifestyle news. I was formerly a homepage editor for, and an online news editor for, and .ca. Life before Reuters included working in China and freelancing in California."
      Joined Reuters:
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