Stats demonstrate economic importance of automotive industry in Canada

OTTAWA — The automobile and auto parts manufacturing industry remains a key driver of Canada’s economy. Here’s a look at the numbers, taken from a report published in April by McMaster University’s Automotive Policy Research Centre:— An average of 2.4 million vehicles were built annually in Canada over the past five years.— The automotive industry directly employed 140,404 Canadians in 2016, an increase of almost 15,000 since 2012.— Three Ontario auto assembly plants — Ford in Oakville, Toyota in Cambridge and Fiat Chrysler in Windsor — are among the six biggest employers in manufacturing and resource extraction in Canada. Fiat Chrysler’s Windsor plant is the largest manufacturing workplace, with more than 6,000 employees.— Canadian-owned automotive parts manufacturers employ 51,923 people — more than half of all employment in this sector globally.And according to the U.S.-based Observatory of Economic Complexity:— Vehicles were Canada’s second largest export, right behind crude petroleum, in 2015. They accounted for $44.9 billion worth of exports (11.5 per cent of a total $389 billion in exports).— Vehicles were also Canada’s No. 1 import — $26.2 billion worth. read more

QMASTOR mineral supply chain software acquired by Triple Point Technology

first_imgTriple Point Technology, a leading global provider of software to manage commodities and enterprise risk, has acquired QMASTOR, a premier provider of mining software solutions to manage the tonnage, quality, and value of coal and mineral supply chains from ‘pit’ to the point of export, import, or consumption. QMASTOR’s mining supply chain solutions are used to manage over 1,000 Mt/y of coal and mineral movements. The company, headquartered in Newcastle, Australia, supports its global client base through regional offices located in Africa, South America, and North America. QMASTOR’s clients are some of the most prominent natural resource companies in the world and include BHP Billiton, Rio Tinto, Vale, Anglo American, Xstrata, and Peabody Energy.Triple Point says “coal is a large, important, and fast growing element of the energy supply mix. Driven largely by rapid population and income growth in developing nations such as China and India, worldwide coal consumption rose by 7.6% in 2010. In the last decade alone, China’s coal usage more than doubled, and last year, it became a net importer of coal despite its huge reserves. India also has large and growing energy requirements and relies on coal for 55% of its needs. The rapid growth in global coal consumption is expected to continue for the foreseeable future.”“Our product strategy is to provide the deepest functionality, from upstream to downstream, in each commodity class. Given the importance of coal to future global economic growth, the addition of QMASTOR to the Triple Point portfolio is extremely compelling,” said Peter F. Armstrong, President and CEO, Triple Point Technology. “QMASTOR solutions are a perfect addition to the Triple Point portfolio in that they supply all the functionality to optimize an end-to-end coal and mineral supply chain, while at the same time being completely complementary to the rest of the Triple Point product set.”The companies’ complementary customer bases, target markets, and product sets create substantial opportunities for continued and accelerated growth.QMASTOR managing director, Trent Bagnall, has been named Triple Point’s Managing Director of Coal and Mineral Supply Chain Solutions. “This is exactly the right time in the life cycle of QMASTOR to become a part of Triple Point,” said Bagnall. “Integrating with a larger, successful organization gives us the resources and reach to accomplish our ultimate goals. This is an important time in the mining software market, and our joining-of-forces will underpin and accelerate our growth.”QMASTOR’s advanced solutions manage and optimise all aspects of mining supply chains including mine planning and scheduling, material tracking, logistical movements, 3D stockpile modelling, grade control, blend management for coal, and other minerals such as nickel and iron ore. QMASTOR also offers solutions for managing port operations and metallurgical accounting. The metallurgical accounting solution supports multiple metals including gold, silver, titanium and platinum.Triple Point Technology® is a leading global provider of software to manage commodities and enterprise risk. The company provides innovative solutions to competitively address the complex commodities value chain: mining, buying, selling, trading, and procurement; enterprise risk management; scheduling and logistics; storage; processing; and settlement and accounting. Triple Point’s Commodity Management platform enables over 300 customers in 35+ countries to profitably manage exposure to energy and raw materials across industries, including energy, metals and minerals.last_img read more