Martinrea International Inc.

Martinrea International Inc.

November 22, 2013 17:01 ET

Martinrea International Inc. Update on Litigation

TORONTO, ONTARIO--(Marketwired - Nov. 22, 2013) - Martinrea International Inc. (TSX:MRE), a leader in the production of quality metal parts, assemblies and modules and fluid management systems focused primarily on the automotive sector, updated today the status of its litigation with Nat Rea, his holding company, and Ed Sorbara.

The Company has received Rea's Reply and Statement of Defence to the Company's Counterclaim alleging abuse of process by Mr. Rea. Nothing in the Rea documents changes the Company's position set forth in the Company's counterclaim, and the Rea allegations will be dealt with in a Reply to the Statement of Defence to the Counterclaim to be filed early next week. The previously constituted Special Committee of the Company's Board of Directors, comprised of Scott Balfour and Fred Olson, as discussed on the Company's third quarter results conference call, will continue to oversee review of the litigation and matters raised thereby, advised by counsel and outside accounting consultants.

The common shares of Martinrea trade on the Toronto Stock Exchange under the symbol "MRE".

Contact Information

  • Martinrea International Inc.
    Rob Wildeboer
    Executive Chairman
    (416) 749-0314
    (289) 982-3001 (FAX)