Foreign investment numbers look good overallClick image to enlarge

Foreign mining and energy companies registered the highest spending in Canada in almost two years, driving a significant increase in foreign direct investment in the country.

Foreign direct investment rose to $10.8 billion in the third quarter, reports Statistics Canada. That’s a big increase over the $7.7 billion reported in the same period last year. Net investment in mining and energy performed especially well, rising to $3.8 billion in the most recent quarter after a net divestment of $1.3 billion in the second quarter.

Over the first three quarters of this year direct investment came to $35.6 billion, the highest it’s been in three years, reports the Toronto Star.

Dennis Darby, president of Canadian Manufacturers and Exporters, was quoted telling BNN Bloomberg television that “Canada has some natural advantages and we will see more investment.”

Manufacturing investment was one soft spot, slowing to $1.8 billion in the third quarter, less than half of the $3.8 billion recorded in the same period of 2017.

The factory of the future at FABTECH 2016

If anyone had any doubts about where the metal fabrication industry is heading in the future, FABTECH 2016 held recently in Las Vegas, NV, put those doubts to rest. 

Magna forming electric vehicle joint ventures in China

Magna International Inc. has announced that it is forming two joint ventures with Beijing Electric Vehicle Co. (BJEV), China’s biggest electric vehicle manufacturer, to engineer and build EVs in China.

Canadian auto suppliers get opportunity at Magna

Canadian automotive suppliers will have an opportunity to present their capabilities to Magna International on June 24 during the Canadian Innovation Fair at Magna's Troy, MI, facility.

Interested suppliers were asked to submit their applications earlier in June and were contacted by APMA if they had been selected.

The Consulate General of Canada in partnership with the Automotive Parts Manufacturers' Association (APMA) are being given an opportunity to showcase Canadian automotive capabilities at Magna's US facility. Canadian suppliers who apply for the opportunity, will be given the chance to meet with the company's purchasing and engineering managers.

Magna says it's interested in learning about new products, processes, materials or other innovations in the following areas: connected car (e.g. software, advanced camera vision); powertrain (e.g. alternate propulsion technologies); lightweighting (e.g. laser welded blanks, joining technologies); interior and seating systems; testing/production/material handling; and safety systems.

For more information, visit APMA online.

Welding group launches post secondary awards program

The CWA Foundation has introduced the Post Secondary School Awards program for Canadian welding students.

TRUMPF grows with Chicago expansion

TRUMPF plans to expand its operations with a new 50,000 sq ft facility in Chicago, IL, that will house a Technology Centre and a Centre for Excellence for Industry 4.0. The facility will be completed by mid-2017.

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