Investor Relations

Shareholder Value

Martinrea’s vision is making people’s lives better by being the best supplier we can be in the products we make and the services we provide. 

Martinrea’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.
  • Being positive contributors to our communities.

We are focused on building shareholder value on the principle of prudent, profitable and sustainable growth based on innovation, lean thinking and entrepreneurial spirit. We do this by continuing to serve our customers well, improving our products and processes, developing and utilizing the talents of our people and making strategic acquisitions.

We focus on operational improvements on a daily basis. The partnership with our customers who continue to award us new business, champion our constant growth and support our acquisitions is a testament to our operational excellence. We remain soundly capitalized overall and focused on financial discipline at all of our locations.

2023 Sustainability Report


Investor Presentation

Board of Directors

Rob Wildeboer

Robert Wildeboer

Fred Olson

Fred Olson

Terry Lyons

Terry Lyons

Sandra Pupatello

Pat D'Eramo

David Schoch

David Schoch

Molly Schoichet

Molly Shoichet

Ed Waitzer - Board of Directors

Ed Waitzer

Maureen Midgley

Corporate social responsibility

Martinrea complies with all applicable laws in the jurisdictions in which it operates. The Board of Directors has adopted a Code of Conduct to:

  • Act honestly and ethically and in the best interests of the company.
  • Comply with all applicable laws, rules and regulations.
  • Not use or disclose any confidential information acquired as a result of a person’s role with the company.
  • Avoid all actual or apparent conflicts of interest between personal and professional relationships, ethically handling such actual or apparent conflicts of interest.
  • Not take any opportunity that belongs to the company or is discovered through the use of corporate property, information or position; or use any corporate property, information or position for personal gain.
  • Not compete with any business activity of the company.
  • Promptly and accurately provide all necessary information to assure that the company’s public reports, documents, filings and communication are full, fair, accurate, timely and understandable and that the company’s public disclosure requirements are fully met.
  • Promptly report any known violations of this Code to the Audit Committee Chairman.
  • Not permit retaliation of any kind against good faith reports or complaints of violations of this code or other illegal or unethical conduct.

The Code is an integral part of our ethical backbone. In today’s world, with Martinrea operating in various countries, the expectations for responsible business conduct are higher than ever. Our customers, partners and shareholders trust the company will maintain and uphold the law and the highest possible standards of ethical conduct. The Code of Conduct is reviewed at least annually.

Martinrea has implemented training to help our people understand as well as apply key rules to ensure all business activities are conducted with the highest level of fairness, honesty, integrity and ethical standards. It also provides information for team members to know where they can go for guidance if ever unclear about the right course of action.

The company also maintains a confidential and anonymous whistle-blowing line, which is administered by a third party to allow employees to report violations or suspected violations of applicable laws or accounting standards without the fear of retaliation.

We have numerous corporate policies in place (in addition to the Code of Conduct) to ensure ethical and legal compliance. Examples include policies dealing with health and safety, workplace violence and harassment, antitrust compliance, privacy and cybersecurity.

The company’s Health Safety and Environmental Policy sets out the company’s continued commitment to conducting its business in a way that aligns with internationally accepted principles for working conditions and corporate responsibility.

We adopted vision and mission statements and a set of 10 Principles to help the company achieve its goals and to provide guidance to employees on acceptable behaviour and how to apply these principles to their jobs. One of our guiding principles is the “Golden Rule” – treat everyone with dignity and respect.

Social responsibility is an increasing focus of our customers, governments and end users.

Martinrea’s contracts require suppliers to comply with certain legal requirements, including the company’s Code of Conduct, compliance with laws, environmental responsibility and customer requirements. A failure to comply with these requirements could result in termination of the contractual relationship.

The company also supports its customers with conflict minerals reporting to help ensure that conflict minerals such as gold, tantalum, tungsten and tin which are sourced from mines under the control of armed groups in the Democratic Republic of Congo and certain neighboring countries, are not used in automotive parts and assemblies. The company also expects similar reporting from its suppliers, where required.

Martinrea strives to continuously help customers to create vehicles that are light, strong, safe and more fuel efficient.

Martinrea values supplier diversity and supports diversity through many purchasing initiatives, including to help its customers meet their requirements for supplier diversity.

Martinrea is committed to the fair treatment of employees, a safe, healthy and diverse workplace, competitiveness of wages and open communication. The company believes that providing employees with a safe and pleasant working environment is an important factor in maintaining labour productivity and goodwill in order to produce quality products. The company believes that it has a strong relationship with its employees. The future success of the company depends in part on its ability to attract and retain qualified people. In addition, Martinrea is committed to an operating philosophy based on fairness, dignity and respect for people, as well as fostering our diverse culture. Accordingly, the company adopted an Employee Bill of Rights.

  • Health and Safety
    Martinrea has a strong commitment to workplace health and safety and the prevention of occupational injury and illness. Martinrea’s objective is to continuously improve its health and safety performance and meet or exceed industry standards. A safe and healthy workplace is created through the combined effort and participation of leadership and employees. Leadership is responsible for establishing and maintaining health and safety policies, programs, safe-work practices and resources, and employees are responsible for maintaining safe and healthy work conditions. Prevention is the goal, and all parties will continue to work together to ensure a safe and healthy workplace. The company has a disaster response and recovery plan in place at each facility to protect the health and safety of the employees and to ensure disruption to the company’s operations are minimized in the event of an environmental issue.
  • Human Rights
    Martinrea respects the dignity of every human being and supports the compliance with internationally recognized human rights. We reject all forms of physical, sexual, psychological or verbal abuse of our employees. We respect the freedom of opinion and expression and freedom of association. The company condemns child labor and respects the rights of children. They comply with the applicable laws and regulations regarding the minimum age for admission to employment or work. Martinrea compensates employees to enable them to meet at least their basic needs and provide the opportunity to improve their skill and capability in order to raise their social and economic opportunities.
  • Promoting Diversity
    Our conduct with each other is characterized by respect and tolerance, and is free of discrimination or harassment due to gender, race, ethnic, national or social origin, age, religion, political or sexual orientation, physical or mental disability or other characteristics protected under law. Tolerance and equal opportunity are pre-requisites to a pleasant work environment. The opportunities of the employees depend exclusively on their performance, capabilities and competences depending on the requirements of their respective working place. The company has a diversity policy and continuously promotes diversity and strives to create an inclusive work environment at Martinrea.
  • Accessibility
    Martinrea is committed to treating all people in a way allowing them to maintain their dignity and independence. The company is committed to meeting the needs of people with disabilities in a timely manner, and will do so by preventing and removing barriers to accessibility and meeting accessibility requirements under the Accessibility for Ontarians with Disabilities Act (AODA) in Ontario, as well as in accordance with the applicable requirements in other regions in which we operate. Where the complete removal of barriers is unattainable, Martinrea will attempt to accommodate persons with a disability in an appropriate and effective manner. We believe in integration and equal opportunity, and thus we aim to create an inclusive culture. Martinrea has developed and will maintain a Multi-Year Accessibility Plan (the “Accessibility Plan”) setting out Martinrea’s plan for preventing and removing accessibility barriers from its workplaces and meeting applicable requirements. The Accessibility Plan will be reviewed and updated at minimum once every five years.
  • Commitment to our Communities
    Core to Martinrea’s Mission is to be good corporate citizens and positive contributors to the communities the company operations within. As such, the company emphasizes the need to support its people by being involved in the local clubs, events and charities enriching their communities. Martinrea often supports community athletics, arts, education, healthcare and other charitable organizations. Martinrea has recently introduced a global charitable giving program for its employees called “Making People’s Lives Better.” Making people’s lives better in communities has been a foundational belief from the beginning, encouraged by the leadership and embraced by the people. Making people’s lives better is directly reflected in its vision, mission and principles, as well as in its diverse culture.

A Message from Our Leadership

We talk about culture a lot at Martinrea. Because it matters. It matters a lot. It matters to all of us at Martinrea. Our culture has a profound impact on our company, our people, and the other stakeholders we serve. So we take it very seriously. Peter Drucker once said, “culture eats strategy for breakfast”. And we think he is right, especially in challenging times. Sustainability is at the core of our culture.

Our vision for the future is: Making lives better by being the best supplier we can be in the products we make and the services we provide. Our people need a why, and that’s a “why” vision. There’s a proverb that says, “where there is no vision the people perish”. Very true and very appropriate. The Company’s mission is Making People’s Lives Better by: (i) delivering outstanding quality products and services to our customers; (ii) providing meaningful opportunity, job satisfaction and job security for our people; (iii) providing superior long-term investment returns to our stakeholders; and (iv) being positive contributors to our communities. The Company’s vision and mission are supported by a four‐pillar strategy: a high-performance culture, operational excellence, superior financial management and customer satisfaction. This has internally become known as Martinrea 2.0: a framework to become a great Company with diverse people and groups working together.

In pursuing our vision and mission, we developed, on a collaborative basis, a set of 10 Guiding Principles to be communicated, reinforced, and adopted throughout the Company:


Sustainability, as with any aspect of the Company, has to start with culture. We believe a great culture is core to a sustainable business and successful Company. Our culture is founded upon principles core to our beliefs for a sustainable business, and these principles are reinforced continuously.

We articulate our Company culture, comprised of entrepreneurship, Lean Manufacturing principles, and the Golden Rule philosophy core to our 10 Guiding Principles in the following schematic.

We have been entrepreneurial from the outset, encouraging all employees, from executives to general managers to our people “on the floor,” to act and think like an owner with a stake in the enterprise, supporting a can-do attitude, promoting an ability and willingness to urgently get things done, acting to avoid unnecessary bureaucracy, and developing an ability to learn from challenges openly and constructively with the trust of working in a team. We embrace new initiatives and focus on developing new products and new technologies.

We embrace Lean thinking as part of our culture – emphasizing eliminating waste in all aspects of the Company’s business and operations. The elimination of waste allows us to reduce unnecessary cost, thereby making us competitive. It enables us to see problems we can fix in our operations more easily. It allows us to simplify processes to have safer, cleaner, more efficient and more sustainable workplaces. It is a culture of continuous improvement in whatever we do.

At the core of our One Martinrea culture is a Golden Rule philosophy, based on treating others the way we want to be treated, with dignity and respect. It also means following our 10 Guiding Principles in our business and operations, as well as in how we interact with our customers, suppliers, stakeholders and our communities. Being Lean or being entrepreneurial is not enough. These cultural elements overlap and are tied together with our Golden Rule/dignity and respect approach. We make people’s lives better in what we do, and we can only do that with a service-oriented approach to our work and our colleagues at work, and all those who we deal with in our work. At Martinrea, we believe our culture is and will continue to be a sustainable, competitive advantage for the Company over the long-term, and we know it has driven the improvement of financial, safety, and quality performance over the past several years.


Culture and Sustainability

Martinrea has been built on strong values and the Company’s goal is to run its business in a socially responsible and ethical manner, by respecting the environment, respecting the law, supporting universal human rights and contributing to communities around the world.

Since 2001, the Company has implemented and updated labour and environmental policies and practices addressing these matters, including policies promoting fair compensation and work hours, freedom of association and collective bargaining, anti‐harassment and discrimination, health and safety, community engagement, respect for the environment, and policies prohibiting bribery and corruption, and child and forced labour.

The Company’s approach to sustainability is not formulaic in response to popular trends: it is at the core of Martinrea’s culture to make people’s lives better. It is a given people are to be treated the way we wish to be treated, with dignity and respect. It is foundational that a person must be safe in our Company, physically and emotionally, that prejudice in any form is unacceptable, that opportunity is provided equally to all. It is also foundational that we as a Company promote sustainability in all we do in our communities, by respecting and improving the environment (through innovative technology), by supporting good causes in communities, and by being an employer of choice. To be a sustainable business, one must be in business. These realities outline what sustainability means to us.

Public Filings

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Dividend policy

Dividend History and Philosophy
In the second quarter of 2013, Martinrea’s board of directors approved, for the first time, a dividend to be paid to all holders of Martinrea common shares. Annual dividends were  to be $0.12 per common share, to be paid in four quarterly payments of $0.03 per common share. Early in 2018, the company increased the annual dividends to $0.18 per share, to be paid in four quarterly installments of $0.045 per share. Early in 2020, the company increased the annual dividends to $0.20 per share, to be paid in four quarterly installments of $0.05 per share.

The declaration and payment of future dividends will be subject to the company’s cash requirements as well as satisfaction of statutory tests. In addition, the Board will assess future year’s dividend payment levels from time to time, in light of the company’s financial performance and the current and anticipated business needs at that time.

Dividends declared, or to be declared, are as specified in the company’s quarterly press releases posted on the company’s website or

Record and Payment Dates for Dividends
Subject to approval by the Board, the record date for dividends is usually set as the last day of each fiscal quarter and the payment date is usually two weeks after the record date.

Dividend Taxation
The Canadian Federal Income Tax Act and most provincial income tax legislation, provides lower level of taxation for Canadian individuals who receive eligible dividends. All of the dividends paid by the company to date have been eligible dividends and all dividends paid hereafter will be eligible dividends unless indicated otherwise.

Analyst coverage

Firm Analyst
BMO Capital Markets Tammy Chen
CIBC World Markets Krista Friesen
Cormark Securities David Ocampo
Paradigm Capital J. Marvin Wolff
PI Financial Ben Jekic
Raymond James Ltd J. Michael Glen
Scotiabank Global Banking and Markets Jonathan Goldman
TD Securities Brian Morrison
Veritas Investment Research Dan Fong

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Martinrea International Inc.
3210 Langstaff Road, Vaughan, Ontario, Canada, L4K 5B2 |