VAUGHAN, Ontario, March 06, 2023 (GLOBE NEWSWIRE) — 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 Marketing
E-mail: deanna.lorincz@martinrea.com
Tel: 248.392.9727
Mobile: 586.634.1766
Investor Relations Contact:
Neil Forster – Director, Investor Relations and Corporate Development
E-mail: neil.forster@martinrea.com
Tel: 289.982.3020
Mobile: 647.210.2385
