Magna International Inc 2020 Investor Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst : John, over here. Peter Sklar from BMO Capital Markets. I have a question about your frame business. There's been no mention of the hydroforming processing technology, when you went through that business. I remember when Magna was awarded the first GM frame, I can't remember, I think it was the CK replacement. And that's when you utilized hydroforming technology. So can you talk a little bit about where you're at with that? Has that grown beyond GM? Is there a usage of the process? Like is that on the new GM truck? Where are you at with that? Or I just don't hear about it anymore.

Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst : And what has the penetration been on the new GM truck of that process?

Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst : Okay. And Grahame, if I may, just one question for you. With the increased usage of plastics on vehicles, I mean, how does that fit into sustainability and ability to recycle? Like the plastics are largely colored, so I don't think you can melt and use the plastic again on vehicles. So how does all that fit into -- this growing use of plastics, fit into sustainability? Grahame Burrow That's a great question. So in fact, there are processes now that allow us to remove the coatings, the paint from plastic. We use it in our processes today and so that's not an inhibitor anymore. So virtually any resin, any plastic on a vehicle, on a component can be recycled.

Question: Peter Sklar - BMO Capital Markets Equity Research - Analyst : Don, Peter Sklar from BMO. Over here. I'm back on culture. I didn't get a chance to log in this question during the culture. But like you referred to the Frank Stronach era. And like when I think back to the Frank Stronach era, the plant managers were so fiercely competitive with each other, sometimes I felt the plant manager felt like the manager next door was almost his enemy. I'm being a little facetious, but I think I know what you're talking about. But you've had the regime change with Frank leaving the company in 2011. So you have the new Board and new senior management team. And also, the world has changed. Like when you listen to the presentations today, there's a lot more collaboration among the groups in terms of various technologies and everything. So I'm just wondering how -- like has the culture changed and how has it adopted -- how is it adapting? Because I think there always is a concern that Magna is going to lose that special culture that it has.